Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 3 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Aquino ally files bill seeking Charter change
By Manolo B. Jara July 10, 2013
 Print    Send to Friend

MANILA: Despite its rejection by President Benigno “Noynoy” Aquino, a staunch administration ally on Tuesday filed a resolution seeking Charter change, more popularly known as Cha-cha, to encourage the entry of more foreign investors into the Philippines.

In filing the resolution, Speaker Feliciano explained his main aim was to amend the “restrictive” economic provisions of the Constitution, which has been supported by 13 of the country’s biggest business groups.

“My idea is not to change the economic provisions just for the sake of changing,” said Belmonte who is widely acknowledged to be re-elected as the House speaker when the 15th Congress is to convene in July.

“We have so many resources that have remained untapped,” Belmonte added, “unless we are able to fully develop them.”

The resolution would allow the Senate and the House to introduce changes in the economic provisions of the 1987 constitution, which was drafted during the time of Aquino’s mother, the late global democracy icon president Corazon Aquino.

In particular, Belmonte and other Cha-cha adherents said they wanted to amend the constitutional provisions limiting foreign ownership of land and business interests in the Philippines.

On Friday, 13 of the country’s biggest and influential business groups made public their call for Aquino to reconsider his stand against Cha-cha by amending the constitution’s restrictive provisions to help sustain the momentum in the country’s economic growth to make it more inclusive and employ more Filipinos.

These included the Joint Foreign Chambers of Commerce, the Philippine Chamber of Commerce and Industry, the Makati Business Club and the Employers Confederation of the Philippines.

But through his spokesman Secretary Edwin Lacierda, Aquino immediately reacted and reiterated his opposition to Cha-cha, pointing out the country can keep its growth momentum “without constitutional tinkering.”

“Our position is that economic development can happen without necessarily amending the constitution,” Lacierda emphasised, citing the robust growth of 7.8 per cent in gross domestic product achieved by the Philippines in the first quarter of the year.

Lacierda also pointed out that what businessmen need is a level playing field where rules are simple to do away with bureaucratic red tape and corrupt practices are not allowed.

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
President Aquino says ‘no’ to term extension
MANILA: President Benigno “Noynoy” Aquino has ended months of debate and speculation by declaring he would not seek an extension when his fixed six-year term as mandated ..
Police arrest close ally of Abu Sayyaf founder
MANILA: Police on Wednesday reported the arrest of a former public school teacher, described as a close ally of the founder of the Al Qaeda-linked Abu Sayyaf extremists o..
MILF forms political party, prepares for ’16 polls
MANILA: A senior member of the Moro Islamic Liberation Front (MILF) has confirmed they would form a political party in preparation for the 2016 election and signal a sign..
Manila orders seizure of senator’s illegal wealth
MANILA: Government prosecutors have asked a special court to order the seizure of $6 million in unexplained wealth allegedly amassed by a senior member of the Philippine ..
Manila aims for ‘zero’ death toll from Ebola
MANILA: Philippine health and other concerned officials assured the government has taken all the necessary precautionary measures to help ensure a “zero” death toll from ..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright