Sen. Robinhood Padilla, chairman of the upper chamber’s panel on constitutional amendments, released his unnumbered committee report proposing amendments to economic provisions of the 1987 Constitution through a constituent assembly. | BPinlacINQ
The State may directly explore, develop, and utilize natural resources, or it may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens or corporations or associations, at least 60 per centum of those whose capital is owned by such citizensPrivate corporations or associations may not hold such alienable lands of the public domain except by lease for a period not exceeding 25 years and not to exceed 1,000 hectares in the areaSave in cases of hereditary...
No franchise, certificate, or any other form of authorization for the operation of a public utility shall be granted except to citizens of the Philippines or to corporations or associations organized under the laws of the Philippines, at least 60 per centum of whose capital is owned by such citizensParticipation of foreign investors in the governing body of any public utility enterprise shall be limited to their proportionate share in its capital, and, all the executive and managing officers of...
While Padilla has remained resolute in the push for Charter change in the upper chamber, other senators have poured cold water on the bid, citing issues on timeliness and the need to reform the Constitution amid other pressing issues.
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