Probisyon para sa public utilities, sentro ng pagdinig ng Senado kaugnay ng Charter Change
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00:00 Some business groups are supporting the economic provisions of the 1987 Constitution,
00:05 particularly the expansion of restrictions on foreign direct investment.
00:09 Daniel Manalas Taza reports.
00:11 In the continuation of the Senate Subcommittee on Constitutional Amendments' hearing,
00:18 as well as the proposed amendment of some economic provisions in the League of Law,
00:23 the Senate will discuss whether it will allow the expansion of provisions for public utilities
00:28 to include foreign direct investment.
00:30 Legal experts and various business groups have joined the discussion.
00:34 If some business groups will ask,
00:36 they support the expansion of restrictions on foreign direct investment,
00:41 even though they understand that the government needs to take care of the interests of the people.
00:47 The removal of economic restrictions would facilitate increased foreign direct investment
00:53 in sectors where such investment is currently restricted.
00:57 The change of time is fast in the midst of the joint foreign chambers.
01:01 For example, if 30 years ago, there was no online education,
01:06 there was no online advertising, it has changed now.
01:09 But they admitted,
01:11 Is there now concern because of this issue on amending the Constitution
01:16 with regards to our foreign investors being a little bit hesitant
01:22 because of the issues surrounding this now?
01:24 Well, I have to be honest, we got some calls from some of our members
01:31 following the news and the political debate about how this might unfold
01:37 or in which direction it could actually move further.
01:40 So there is some uncertainty out there.
01:42 For now, there are some laws for the expansion of the economy for foreign investment,
01:47 like the Public Service Act.
01:49 But some experts think it is not enough.
01:52 The PSA has not necessarily solved the problem.
01:55 After removing electricity generation from the 60-40 rule through PSA,
01:59 which is still subject to court deliberations,
02:02 existing legislation tries to manage this
02:05 but causes slower take-up of rooftop solar due to the higher associated costs.
02:09 Some also think that the economic provisions in the Philippines are too restrictive
02:14 compared to the neighboring countries.
02:16 Looking at the countries Philippines, Indonesia, Thailand, Malaysia, and Vietnam,
02:21 Philippines actually comes out as the most restrictive.
02:25 According to former Supreme Court Associate Justice Antonio Carpio,
02:29 the implementation of the rule "unless otherwise provided by law"
02:33 will help resolve the court and PSA petitions.
02:37 I'm in favor of the amendment that we include in the economic provisions
02:46 the phrase "unless otherwise provided by law."
02:49 But I would like to add subject to reciprocity, just like in the PSA, amended PSA.
02:56 Now on the issue in the Supreme Court, I think this would help.
03:02 If you amend the provision now to add "unless otherwise provided by law,"
03:06 then that will settle the issue.
03:09 According to Senator Sunny Angara,
03:11 if the Senate does not succeed in the Chacha,
03:14 it is important to have records and to start studying.
03:18 I think it's good to go through the exercise
03:21 because this is the first time we're talking about this in detail.
03:24 We always focus on the political provision,
03:30 whether there should be a parliamentary system.
03:34 When Senator Pangilinan was the chairperson of the Committee of Amendments,
03:39 we were talking about federalism.
03:41 Now, this is different.
03:42 So for me, this is good for our fellowmen
03:45 because they can hear the arguments and think about it.
03:48 I hope they will also debate among themselves.
03:52 [Narrator] A subcommittee will be formed on public utilities.
03:56 Daniel Manalastas for Pambansang TV in Bagong, Philippines.