The approved resolution also extends the term of office of officials in the government, including senators and congressmen and under the proposal.

The House committee on Constitutional Amendments approved the resolution that would amend the 1987 Constitution following its executive session held last Wednesday.

House Committee on Constitutional Amendments Chairperson and Cagayan de Oro Rep. Rufus Rodriguez confirmed this to Daily Tribune on Thursday, adding that the target approval of the resolution at the plenary level is next month.

The proposed resolution aims to lift restrictions on foreign investments by placing the phrase “unless otherwise provided by law” on constitutional restrictions that limit participation of foreign investors.

Furthermore, the proposal would give Congress power to craft laws that would ease restrictions on foreign investments.

The approved resolution also extends the term of office of officials in the government, including senators and congressmen and under the proposal, the term of office of the Senators shall be five years for not more than three consecutive terms.

There shall be three senators coming from each of the following regions: National Capital Region, Northern Luzon, Southern Luzon, Bicol Region, Eastern Visayas, Western Visayas,Northern Mindanao, Southern Mindanao and Bangsamoro Autonmous Region.

The current charter provides that there should be 24 senators who would serve six year terms with a maximum of two consecutive terms.

Members of the House of Representatives shall serve for a term of five years, from three years under the 1987 Constitution, for not more than three consecutive terms.

Under the proposal, the President and the Vice President shall be elected as a team – thus the vote for the presidential candidate shall be counted as a vote for his or her vice presidential candidate.

The term of office of elective local officials except for barangay officials was also amended to five years from three years under the current charter.

No local official shall serve for more than three consecutive terms.

The resolution states that the Congress can amend the charter with a vote of three fourths of all its members, voting separately.

In defending the move of the panel to approve the measure behind close doors, Rodriguez told reporters that the panel held an executive meeting as no officials were invited.

“We are not hiding anything. In fact, six of the Makabayan bloc was there.”

Rodriguez expressed hopes that the resolution will be approved as he said the controversial federal system proposal is not included in the resolution.

“We believe there’s a chance that the House will approve this,” he said.

On the extension of terms, the lawmaker justified the move of the panel and said the current term of office under the present constitution is too short.

He also said that incumbent officials will not benefit from the term extension.

“We are increasing the term but this will apply after the 2022 elections. We cannot benefit from this additional term — the present congressmen and congresswomen.”

House Speaker Alan Peter Cayetano earlier said the House will exercise caution in passing controversial measures, among them charter change.

He said the House will conduct during their break a survey among its members to know how lawmakers stand on the passage of the proposed measure while House Majority Leader Martin Romualdez said charter change is not among the priority legislations.

The House of Representatives in the 17th Congress has approved the proposed draft federal charter that will pave the way for federalism.

The bill however died and failed to reach the president as the senate failed to act on the counterpart measure.

The still unumbered resolution stemmed from Resolution of Both Houses 2 filed by Rep. Lord Allan Velasco and Resolution of Both Houses 3 filed by Rep. Teodorico Haresco Jr. which proposed amendments to the economic provisions in the constitution and House Joint Resolution 4 calling members of Congress to convene to amend the Constitution filed by Rep. Aurelio Gonzales, among others.