THE leadership of the House of Representatives said that it will convince the Filipino people to support Resolution of Both Houses 1, or the proposed amendments to the economic provisions of the 1987 Constitution.
Speaker Feliciano Belmonte Jr., in a text message, said he believes that the lower chamber can convince the people on the benefits of the economic Charter change (Cha-cha).
“We will pass it [during the 16th Congress], and convince the people during the plebiscite stage,” Belmonte said.
Belmonte added that the Chacha is a larger contributor to economic growth as foreign direct investments are seen to increase once ownership on estates and corporations—one of the issues raised by investors for not investing in the country—is relaxed.
According to the recent survey by Pulse Asia, around three out of five Filipinos do not want the 1987 Constitution amended at this time, although nearly half of them are open to having it amended sometime in the future.
The survey, which was conducted from September 8 to 15, also showed 62 percent of Filipinos do not want the Charter amended to allow a second term for President Aquino.
“For 62 percent of Filipinos, there is no need to amend the 1987 Constitution at the present time—with 32 percent opposed to Charter change at any other time and 30 percent being open to Charter Change at some future time,” it said.
Moreover, Belmonte said he is planning to file a resolution allowing the plebiscite for Cha-cha simultaneous with the 2016 national and local elections.
According to the Speaker, the government may hold the plebiscite for Cha-cha together with the 2016 national elections, instead dedicating a separate election next year, which needs at least P7 billion to P8 billion.
The resolution, filed by Belmonte and Sen. Ralph Recto, is eyeing to amend provisions on the 60-40 rule that limits foreign ownership of certain activities in the Philippines.
The resolution will include the phrase “unless provided by law” in the foreign-ownership provision of the Constitution, particularly land ownership, public utilities, natural resources, media and advertising industries.
Under Article XII of the Constitution, foreign investors are prohibited to own more than 40 percent of real properties and businesses, while they are totally restricted to exploit natural resources and own any company in the media industry.
The amendments to the Charter will be approved through separate voting by both Chambers, with a three-fourths vote required from them.