1st-APLUMA!: They are at it again PDF Print E-mail
Monday, 08 August 2011 14:09

Yes, people of the Philippines they are at it again.
Soon our lawmakers will be dancing and singing again to the tune of “cha-cha” (Charter Change).

According to Speaker Feliciano Belmonte, the House and Senate leaderships have agreed to “push for Charter Change by way of legislation and to focus on economic provisions such as allowing foreigners to bring in capital and own land and corporations like Filipinos. They can own 100 percent, including public utilities and media entities the Speaker says.

“Scary” you might say but yes, there really is, a tangible reason to have fear for the unknown especially for local giant print and TV networks who may soon be locking horns with BBC, CNN, FOX in local shores if and when the economic cha-cha would push through.

To be more specific the six economic revisions entails the following:
* The lifting of the 60-40 equity rule and allowing foreigners to own 100 percent of public utilities in the telecommunications, power and other sectors
* Allowing foreigners to own 100 percent of residential houses and land
* Allowing foreigners 100 % ownership of commercial and industrial lands
* Opening up the practice of professions such as doctors, engineers, architects, lawyers, and others under the “reciprocity rule”
* Opening up foreign investments to media entities
* Opening up foreign investments to educational institutions

So there you go.
But anyway, there is nothing to fret about yet at the moment from among our professional Kababayans because it still is a long haul.
And while it may have a good side to it, this will surely encounter rough sailing.

Malacanang for one distanced itself from the proposed cha-cha with Deputy Presidential Spokesperson Abigail Valte telling the media that it (cha-cha) is not President Aquino’s priority even as she stressed that the Chief Executive’s stand on the issue is very clear.

P-Noy is not accordingly sold to the idea of changing any provision of the 1987 Constitution which was approved during her mother’s term. — Email: esns03 @yahoo.com -- Ismael Amigo