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National

Aquino cool to Charter-change, says no certainty it can boost economy

InterAksyon.com
The online news portal of TV5

MANILA, Philippines - President Benigno Aquino III has maintained his aversion to Charter -change proposals, saying there is "no absolute certainty" that amending the 1987 Constitution will result in better economic conditions for the Philippines.

"There is no absolute certainty that if we lift the restrictions in our Constitution, there will be corresponding economic gain," the

President said in an interview in Davos, Switzerland at the sidelines of the World Economic Forum aired over state-run Radyo ng Bayan.

"Before we do Charter change, I think there should be concrete evidence that it would help our country," the President added.

Aquino last year ordered his economic and legal teams to study the basis for the Charter-change initiative being pushed by House Speaker Feliciano Belmonte Jr. and Senate President Juan Ponce Enrile.

But the President said he has yet to go through the findings of the study.

Aquino earlier warned that instead of spurring growth, Charter change might actually derail the country's economic takeoff.

"There's an American saying, don't fix what ain't broke," the President said.

The issue of Charter change has surfaced once again as foreign chambers of commerce and potential investors pointed to what are perceived to be restrictive limits on equity ownership by foreign business; and the negative list of areas where they are barred.

 

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