Instead of amending the Constitution, the government should focus its attention on ensuring the Philippine economy will have a safer rebound amid the positive developments in the roll out of vaccines for the coronavirus disease 2019 (Covid-19).
In a joint statement issued on Friday night, 10 business groups said the government must maintain its focus on safe economic recovery, noting that positive developments on Covid-19 vaccines.
“We believe that introducing any charter change 15 months before presidential elections will only raise fears that other constitutional changes, some of which may be highly controversial, may be introduced and passed,” they said.
“Thus, any attempt at charter change now will be highly divisive at a time when our country still needs to be totally united in our efforts to overcome the ill effects of the pandemic,” the groups added.
The groups also urged Congress to pass pending measures that will further open the economy to foreign investors, like the Public Service Act Amendment, which has been approved by the House of Representatives and is pending at the Senate Committee on Public Services, the groups noted.
“The bill lifts restrictions on foreign equity ownership in some sectors currently classified as public utility. We are hoping for this and other economic bills to be enacted before the end of the 18th Congress,” the groups said.
The groups that expressed their sentiments is composed of Financial Executives Institute of the Philippines, Filipina CEO Circle, Investment House Association of the Philippines, Judicial Reform Initiative, Management Association of the Philippine, Makati Business Club, Philippine Chamber of Commerce and Industry, Philippine Retailers Association, Philippine Women’s Economic Network, and Women’s Business Council.