THE HOUSE of Representatives is looking to approve on second reading the Resolution of Both Houses (RBH) No. 7 by Wednesday, House Senior Deputy Speaker and Pampanga Rep. Aurelio D. Gonzales, Jr. said on Sunday.
Mr. Gonzales said the House plans to deliberate RBH No. 7 in three days, with its voting happening shortly after at Wednesday’s plenary session.
“In plenary, the proponents of the economic Charter changes will defend their proposals,” Mr. Gonzales said in a statement. “The plan is to have three days of debates, with the second-reading vote set shortly after the termination of discussions and the period for amendments on the third day.”
He said that the House is also intent on finishing RBH No. 7 on third and final reading before the Holy Week break.
The committee report of RBH No. 7 was approved “without amendment” last week amid extensive deliberation from lawmakers.
The proposed economic amendments included in RBH No. 7 would give Congress the flexibility needed to change foreign participation restrictions in the Constitution.
It specifically seeks to amend Articles 12, 14, and 16 of the Charter which stipulates foreign ownership restrictions to public utilities, educational institutions, and advertising.
“The ratification of the amendments will immediately send a powerful signal to investors that we want to attract more foreign investments in these sectors of the economy by changing those limitations down the road,” Mr. Gonzales said. — Kenneth Christiane L. Basilio
