House approves economic Cha-cha

The House of Representatives approved on second reading last night Resolution of Both Houses 7 (RBH7) amending restrictive economic provisions in the 1987 Constitution, just before Congress goes on a Holy Week break.

- DELON PORCALLA

Administration lawmakers overwhelmingly endorsed through a voice vote the economic Charter change ostensibly aimed at relaxing foreign ownership restrictions in public utilities, education and advertising.

Rep. Rufus Rodriguez, chairman of the House committee on consti tutional amendments, suggested that in light of the Philippines’ rift with China over the West Philippine Sea, the government can “exclude Chinese and other risky investors in the economic Charter amendment enabling law.”

He said the phrase “unless otherwise provided by law” is proposed to be inserted in the Charter’s economic provisions to give Congress the power to change foreign investment limitations, but this would not mean that all foreign capital would be accepted.