House approves RBH 7 on second reading

The House of Representatives on Wednesday approved on second reading Resolution of Both Houses No. 7 (RBH 7), which seeks to ease constitutional restrictions on foreign ownership of public utilities, education, and advertising.

Aklan Rep. Teodorico Haresco said RBH 7 will address the country’s lack of capital needed to create jobs.

“We need P1.7 trillion just to address the current underemployment and unemployment rate. Every year, we have some one million college graduates that need another P1 trillion," Haresco said at a press conference.

"We had a recent trade summit in the United Arab Emirates where I heard that the United Arab Emirates are pouring in billions of dollars in Turkey, in Indonesia and all of that. They want to come here,” he added.

Some representatives including those from the Kabataan and Gabriela party-list groups have expressed concern that the House approval could be questioned before the Supreme Court.

They said the measure was not among the three modes of Charter change provided for under the 1987 Constitution.

The House leadership expressed confidence that he passage of the RBH 7 was in accordance with constitution.

It also guaranteed that the Senate and House will vote separately on the issue.

The House is looking to approve the measure next week before Congress goes on its Holy Week break on March 23.

If the Senate passes its counterpart RBH 6, the proposed constitional amendments on the economic provisions need to be approved by the electorate in plebiscite. — VDV/NB, GMA Integrated News