RP congress seeks review of legislative franchise

MANILA, Philippines - The congressional franchise of select service firms is up for review as a legislator wants to ensure the companies are operating according to their concessions. Agusan del Sur Rep. Rodolfo G. Plaza noted that some companies may have changed ownership without getting congressional approval, while others have yet to offer shares to the public through the stock exchange. "The grant of a legislative franchise - an act of Congress - is a privilege that can be taken back, withdrawn or revoked if the grantees fail to rigorously adhere to the terms and conditions of their concessions," Plaza said in a statement. The review of franchises will cover broadcasting media companies, cable firms, commercial airlines, public utilities and telecommunication service providers. Plaza said the companies are required to submit annual reports to the Congress, but some companies have been remiss in this requirement. "We are looking to impose and collect fines of up to P50,000 per day for those who fail to submit their annual reports to Congress, as mandated by law," Plaza said. He added half of the fines may go to the national coffers while the rest may be used for the modernization of the information technology systems of the House of Representatives and the Senate, or it may be channeled to the provident fund for congressional workers. - GMANews.TV