(NAR) VOL. 15 NOS. 3-4 / JULY - SEPTEMBER 2004
The hospital equipment is of such advanced technology that it can only be acquired from abroad. As such, the manufacturers of the equipment stipulate that they are to be paid in US Dollars. Because of the continued deteriorating exchange rate of the peso to the dollar, it has become necessary to increase the maximum amount in pesos allocated per hospital.
The Perpetual Succour Hospital has proposed to purchase a state-of-the-art magnetic resonance imaging (MRI) open system machine that costs US$1.8 Million and is willing to put up the excess of US$800,000.00 to acquire the machine.
The Administrator, however, requests for a longer usufruct agreement.
The request was found reasonable because, while the hospital's contribution to the purchase of the machine is quite substantial, ownership of the machine will still remain with the GSIS.