Despite the support of the Department of Finance (DOF) on economic charter change, Secretary Sonny Dominguez said the ban on foreign ownership of land must not be lifted.
Both Dominguez and Trade and Industry Secretary Ramon Lopez who attended the hearing of the House Committee on Constitutional Amendments have expressed support on amending provisions due to their impact on the economy.
“The ban on the foreign ownership of land, however, should remain since this evokes strong emotional reactions. The rest of the investment liberalization strategies should accomplish enough to enable our rapid economic recovery,” Dominguez stated.
Dominguez said natural resources are from the state and should not mean that only Filipinos can exploit them. He however emphasized that the state and the Filipino people should benefit from them.
Lopez is not against amending the constitution, but “we are just mindful of the challenges brought upon by the pandemic, including the nearing 2022 Elections that might affect the focus nature and taste of the deliberations, but we leave that concerns to our legislators”.
Some lawmakers are pushing to expedite committee level voting on cha-cha. The committee is set to conduct two more hearings on the matter.
“I am sure that all questions to be asked in this committee will still be the same questions that could be referred in the plenary session the moment this issue is referred to the plenary,” Capiz Second District Rep. Fred Castro stated.
Committee Chairperson Alfredo Garbin Jr. reiterated that economic cha-cha is timely despite the criticism it is receiving.
According to Senate President Vicente Sotto III, the Lower House “can do whatever they please” as long as Garbin “does not call his committee a constituent assembly.” – Report from Daniel Manalastas
