Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 15 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Philippines House panel calls for change
By Manolo B. Jara March 04, 2014
 Print    Send to Friend

MANILA: Voting 24 in favour, two against and one abstention, a powerful committee in the House of Representatives on Monday approved a resolution calling for Charter change (Cha-cha) to encourage more foreign investments.

The House Committee on Constitutional Amendments approved the resolution sponsored by Speaker Feliciano Belmonte after holding public hearings on the issue.

The resolution now goes to the House plenary for debates on the floor before the 386 members are to vote on the issue.

Significantly, the committee passed the resolution despite opposition from President Benigno “Noynoy” Aquino who argued there was no need to amend the 1987 Constitution in order to attract more foreign investments and help sustain the country’s economic momentum.

Aquino cited as an example the case of China whose economy continued to grow without amending its Constitution.

But Belmonte, a close Aquino ally, cited the urgent need for Cha-cha particularly to amend the economic provisions that limit foreign ownership of lands and public utilities to just 40 per cent.

Under the Belmonte proposal, the House and the Senate would act on Cha-cha separately before this would be submitted to the people either for approval or rejection through a plebiscite.

Former president Fidel Ramos earlier joined Belmonte in calling for Cha-cha to attract more foreign investments, which, in turn, could lead to the employment of more Filipinos.

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
More tourist resorts face closure: Official
MANILA: A senior government official on Tuesday warned that other popular tourist resorts in the Philippines might be closed down similar to what had happened to Boracay ..
Evacuations as Typhoon Yutu strikes Philippines
MANILA: Typhoon Yutu slammed into the Philippines on Tuesday with fierce winds that sheared off roofs and snapped trees, after thousands were evacuated ahead of the power..
Philippines opens cleaner Boracay to tourists
Boracay: Tourists landed by the boatload Friday on the Philippines’ Boracay island, which re-opened with a slew of new rules after a six-month shutdown aimed at undoing t..
Philippines to reopen Boracay after clean up
Manila: The Philippines reopens its crown jewel resort island Boracay to holidaymakers on Friday, after a six-month clean up aimed at repairing the damage inflicted by ye..
2 terrorists killed in Mindanao operation
MANILA: At least two members of the Abu Sayyaf terror group were killed in operations launched by government forces on the island province of Sulu in Mindanao, according ..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright