MANILA – Voting 288-8 with two abstentions, the House of Representatives on Wednesday approved on the third and final reading the proposed amendments to the Constitution’s restrictive economic provisions.
The amendment proposals are contained in Resolution of Both Houses (RBH) No. 7 authored principally by Speaker Ferdinand Martin G. Romualdez, Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio Gonzales Jr., Deputy Speaker and Quezon Rep. David Suarez, Majority Leader Manuel Jose Dalipe, Senior Deputy Majority Leader and Ilocos Norte Rep. Ferdinand Alexander Marcos, and other House leaders.
“The proposed economic amendments to the Constitution are the last piece in the puzzle of investment measures the administration of President Ferdinand Marcos Jr. has been taking to sustain our economic growth, create more job and income opportunities, and in general, make life better for Filipinos,” Romualdez said in a statement.
“These changes, if ratified by our people in a plebiscite, will greatly boost these measures, including our President’s investment missions abroad which have generated actual investments and pledges in the billions of dollars and created thousands of jobs,” he added.
Romualdez said the approval by Congress and by the people of the proposed amendments “will send a powerful message to foreign investors and the international community” that the Philippines is willing to fully open for business and for investments.
“This is more than just an economic imperative; it is a clarion call to action that resonates with the aspirations of the Filipino people for a more prosperous and secure future,” he said.
Under RBH7, the proposed changes are on the grant of legislative franchises to and ownership (60-40) of public utilities in Article Xll, ownership of basic educational facilities (60-40) in Article XlV, and ownership of advertising firms (70-30) in Article XVl.
The suggested principal amendments are the insertion of the phrase, “unless otherwise provided by law,” which would empower Congress to lift or relax present economic restrictions in the nation’s basic law, and the addition of the qualifier “basic” in Article XIV.
It also restates the provision of the Constitution that Congress may propose amendments “upon a vote of three-fourths of all its members.”
RBH No. 7 replicates RBH No. 6, introduced by Senate President Juan Miguel Zubiri and Senators Loren Legarda and Juan Edgardo Angara.
Romualdez said he is hoping “the Senate would pass its version soon.” (PNA)
