Epic distraction

Epic distraction | Daily Tribune

A compelling reason to suspect a hidden agenda in the push for Charter change that is in full steam in both chambers was the assertion of retired Supreme Court Senior Associate Justice Antonio Carpio that the investment environment improved without the need to tamper with the Constitution.

Carpio was among the resource persons last Monday at the ongoing Senate subcommittee on constitutional amendments and revision of codes hearing on Resolution of Both Houses 6 that seeks to tweak the economic provisions of the Charter to allow the crafting of laws to relax restrictions on foreign ownership.

The Senate has resisted the House of Representatives’ badgering to fast-track the deliberations on RBH 6 after a People’s Initiative that leaders of the bigger chamber denied having spearheaded had lost steam.

Only one proposal was contained in the PI which is to reword the provision on the holding of a Constituent Assembly to allow a unicameral vote instead of the accepted joint session with the Senate and the House voting separately.

If the PI pushes through and the proposal carries, the House, by its sheer number, will dominate the con-ass and the congressmen can have their way in tinkering with the Constitution.

Attracting investors through the targeted crafting of laws has proven to make opening the Basic Law for changes dispensable.

“There appears to be a lack of understanding by national leaders of the extent of foreign ownership, under the law, of businesses in our country,” Carpio said.

Another way to look at the situation, however, is that the cha-cha proponents have other objectives in mind.

Carpio, for instance, said that “power generation from coal, oil, and gas plants has been open to 100-percent foreign ownership for the longest time,” to counter what has been used as an excuse for cha-cha which is to pull in foreign investors in the energy sector.

The generation of renewable energy, including solar and wind projects, has just been opened to 100-percent foreign ownership under the Department of Energy circular amending the implementing rules and regulations of RA 9513.

The recently amended Public Services Act has reclassified businesses as public services open to 100-percent foreign ownership in telecommunications, air, sea, and land transportation except public utility vehicles and airports, Carpio pointed out.

Among other sectors that are fully open to foreign investments are local banks under Republic Act 10641, and trade under the amended RA 8762, “subject, of course, to reasonable minimum requirements on capital,” Carpio said.

Congress should look elsewhere other than the Constitution to improve the business climate, according to the magistrate.

Carpio said investors are disenchanted more with the high cost of power, bureaucratic regulation, and inadequate infrastructure.

Representatives of foreign chambers backed Carpio’s statement, saying that relaxing the limiting provisions will certainly help in getting the attention of capitalists but other factors, including those that were mentioned, must be resolved.

Economist Bernardo Villegas indicated during the Senate proceedings that this is not the right time for Charter change although the 1987 Constitution badly needs an update to reflect the demands of the times.

Villegas said the government must focus on solving the poverty problem to hit the target of a single-digit impoverished rate before delving into Cha-cha.

The economic expert is right. The intramurals as a result of Cha-cha have diverted the attention of Congress away from ensuring that Filipino families have food on their table daily.

It would serve the nation’s best interest to end all efforts to tinker with the fundamental law.