The House of Representatives has passed on third and final reading the Public Service Act bill which allows foreign ownership of several public utilities in the Philippines.
136 members favor the bill, while 43 members rejected it, with 1 abstention.
The bill, which extends the foreign ownership to several public utilities in the Philippines will increase competition between providers resulting to lower prices and better service quality. It also aims to protect public interest of the Filipinos and upturn the country’s economy.
