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House passes economic Cha-cha on second reading

Posted on May 27, 2015

By Sammy F. Martin

MANILA, May 27 (PNA) — The House of Representatives on Wednesday passed on second reading the controversial economic Cha-cha under Resolution of Both Houses 1 authored by Speaker Feliciano Belmonte Jr.

Members present voted yes for the passage of the measure for second reading using viva voce (ayes and nays) voting principle.

“This is the first time it ever reach this point and I’m very happy. The biggest hurdle is still to come, three-fourths vote of everybody including those who are absent,” Belmonte told reporters after the passage of the measure to second reading.

He reminded that the time is no longer in their favor but they are doing their best to convince more colleagues to support the measure.

“We have to time that within the next week. Three fourths or 3/4 is roughly 200 (of all congressmen), around 195, 196 something like that,” the jolly speaker said.

“Remember this is a joint resolution of the house and the senate, it doesn’t require the approval of the president,” he pointed out.

According to the House leadership, if the Senate succeed in doing the same thing, “then it will be a historical thing, the first time that it has ever been done. Then, it go straight to the Comelec, it doesn’t need to pass through the president. The problem here is there is no money for a plebiscite.”

Asked what would be the remedy, the speaker said he want plebiscite to be included in the 2016 election

Belmonte said this measure, which hoped to lift the Philippine economic situation to a better position, might end up into waste should Congress does not throw its support — to give a chance in passing this into law.

He said he would not give up until after it was over, adding that he would try to convince his colleagues of “no turning back” because he was fully aware that this could make a giant leap in our economy if passed into law.

Belmonte, the principal sponsor of RBH 1 admitted that he feared he could not get the needed vote for the third and final reading that would give life to the measure.

Asked why he was not asking President Aquino’s help to push the measure, Belmonte said he tried but there was no positive feedback to his request.

In June last year, President Aquino announced his stance against Cha-cha until 2016, saying the Congress was wasting time on this issue.

Communication Secretary Herminio Coloma Jr. has said that he had yet to see a signal that the President had relented on his firm belief that there was no need to amend the economic provisions of the 1987 Constitution.

“Now the second phase is over. Big effort will be needed during the third reading,” he reiterated as he claimed he would continue campaigning to his colleagues to support the measure.

Since last year, the RBH 1 is still under period of interpellation in the plenary.

The Resolution, filed by Belmonte and Sen. Ralph Recto, is eyeing to amend economic provisions on the 60-40 rule that limits foreign ownership of certain activities in the Philippines.

The resolution will include the phrase “unless provided by law” in the foreign-ownership provision of the Constitution, particularly land ownership, public utilities, natural resources, media and advertising industries.

Under Article XII of the Constitution, which ratified during the term of the President’s mother, then-President Corazon Aquino, foreign investors are prohibited to own more than 40 percent of real properties and businesses, while they are totally restricted to exploit natural resources and own any company in the media industry.

The House of Representatives uses viva voce voting for second reading while nominal voting for third reading.

Belmonte also reiterated that the Cha-cha is a larger contributor to economic growth as foreign direct investments (FDI) are seen to increase once ownership on estates and corporations, one of the issues raised by investors for not investing in the country, is relaxed.

Belmonte added that the government might hold the plebiscite for Cha-cha alongside the 2016 national elections instead of spending a separate election, which needs at least Php 7 billion to Php 8 billion.

“If we don’t have funds for the plebiscite it is ok for me to conduct the plebiscite for Cha-cha alongside the 2016 presidential elections,” he said, adding, “the plebiscite is the crucial thing for economic Chacha.”

According to the Commission on Elections, the highest turnout of voting population participating in a particular election is during presidential elections.

Moreover, Belmonte said that the lower chamber was still the main proponent of the economic Cha-cha and senators would still wait for the House version once it passed the third reading before the upper house tackles it. (PNA)

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