WITH the government saddled with a tight fiscal space owing to massive past spending on Covid-19 response, a senior lawmaker believes the time is ripe for greater investments from abroad to accelerate post-pandemic high growth by letting a duly-elected Constitutional Convention relax foreign ownership provisions in the 1987 Charter. The latter have turned off investors despite the Philippines enjoying investment-grade ratings for over a decade, according to Camarines Sur Rep. LRay Villafuerte.
Moreover, delegates to the would-be Con-Con are barred under his proposal from being appointed to public positions while it is in session and up to a year after the ratification of the proposed Charter changes in a plebiscite, Villafuerte said. Villafuerte said past Charter Change initiatives took place in the second half of the terms of past governments. This, he added, accounts for the suspicions of a hidden political agenda to lift term limits or extend the terms of the then-incumbent officials from the President down to local elective executives.
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Source: gmanews - 🏆 11. / 68 Read more »
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