KMP strongly criticized the ongoing hearing of the Committee of the Whole of the House of Representatives discussing RBH 7. Starting today, Congress will lead marathon hearings in an attempt to fast-track Charter Change. The group called this move by Congress as “autocratic” and “tyrannical.”
“There were no public or legislative consultations conducted beforehand. The rules and procedures of the Committee of the Whole are very technical and one-sided. It is clear as day that pro-ChaCha legislators do not represent the real will and sentiments of the people. In reality, more Filipinos do not know about the impending perils and irreversible effects of the economic Charter Change being rammed by the House of Representatives.”
RBH No. 7 initiated by the Lower House is identical to RBH 6 filed by Senate, except for one line. In the Senate version, the amendments would take effect with a three-fourths vote of its members, with each chamber voting separately. RBH 7 that is part of Marcos Jr’s economic ChaCha wants to remove the restriction on foreign ownership on media and education, advertising, public utilities and other strategic industries.
“Pro-ChaCha legislators do not want to accept that decades of globalization and influx of foreign investments did not uplift the state and situation of farmers, fishers, and rural sectors in agriculture. It led jobs losses by the millions in the agriculture sector. Opening up the entire economy and remaining vital industries and public utilities to foreigner ownership will be the death of the domestic economy. Liberalizing foreign ownership restrictions will be the last nail on the coffin of the PH economy,” according to KMP chairman emeritus Rafael Mariano, also a former legislator in the Lower House.
“Our economy is not restrictive. In fact, our economy is one of the most open and liberalized economies in Asia-Pacific. Such economic reforms imbued with vested interests will not benefit the majority of Filipinos. What is there to further liberalize? Uulitin namin, bumuhos ang dayuhang pamumuhunan sa bansa mula 1987. Lumaki nang 40 ulit ang foreign direct investment (FDI) stock mula US$2.8 bilyon noong 1987 tungong US$113 bilyon noong 2022. Bilang bahagi ng ekonomiya, lumaki ang FDI stock mula 7.4% ng gross domestic product (GDP) noong 1987 tungong 28% noong 2022. Bukas na bukas na ang Pilipinas sa dayuhang pamumuhunan pero nananatili
itong atrasado, lugmok at kulelat ang ekonomiya. Malinaw na hindi ang Konstitusyon ang problema kundi ang globalisasyon at liberalisasyon na nagwasak sa ating ekonomiya at pamumuhay,” Mariano added.
KMP said they will continue to expose and protest RBH 7 and ChaCha attempts of the Marcos Jr. administration. ###
