House sets discussion on economic Cha-cha
By LLANESCA T. PANTI, GMA Integrated News Published February 20, 2024 8:51pm The House of Representatives will constitute itself as the House Committee of the Whole on Wednesday to deliberate on Resolution of Both Houses 7, which seeks to amend the Constitution by lifting the 40% limit on foreign ownership of vital industries, including public […]
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By LLANESCA T. PANTI, GMA Integrated News
The House of Representatives will constitute itself as the House Committee of the Whole on Wednesday to deliberate on Resolution of Both Houses 7, which seeks to amend the Constitution by lifting the 40% limit on foreign ownership of vital industries, including public utilities.
This developed after the motion, made by House Deputy Majority Leader Janette Garin of Iloilo, was approved in the House plenary without objection.
The presiding officer when Garin made the motion was House Deputy Speaker Raymond Democrito Mendooza of TUCP party-list.
Garin’s motion set the deliberations at 1 p.m., two hours earlier that the scheduled regular session of Congress at 3 p.m.
Speaker Martin Romualdez of Leyte has repeatedly said that the House will focus on pushing for economic Cha-cha in 2024 to attract foreign capital and encourage competition and job creation.
Critics, however, have argued that the Constitution is not to blame for the country’s investment and job woes but high power cost, complicated bureaucracy and corruption.
The RBH 7 is the counterpart and in toto version of the Senate’s RBH 6, which also seeks to amend the economic provisions of the 1987 Constitution.
The Senate has yet to approve RBH 6. — BM, GMA Integrated News
