June 17, 2024

The Insider News

Direct from the source

Lawmaker embraces PBBM’s push for economic reform in Charter

A MEMBER of the House Committee on Constitutional Amendments expressed Sunday his appreciation for President Ferdinand “Bongbong” R. Marcos Jr.’s call to amend the Constitution’s “restrictive” economic provisions, emphasizing the critical need and urgency for such reforms.

“The President has rightly highlighted how these provisions impede the influx of foreign investments and hinder the potential for faster, more inclusive economic growth, which ultimately impacts the quality of life for every Filipino,” Zambales 1st District Rep. Jefferson F. Khonghun stated.

“We are pleased that he acknowledged our longstanding advocacy in the House of Representatives for amending these restrictive provisions, a stance we have upheld for more than three decades since the 8th Congress, approximately 36 to 37 years ago,” Khonghun said. 

Khonghun also commended the President for affirming that his support for reform pertains solely to economic matters, emphasizing, “We have consistently stated that we do not advocate for any political amendments.”

PBBM pledges unwavering support

Earlier, President Marcos pledged his unwavering support for ongoing efforts to amend the 1987 Constitution of the Philippines, underscoring the importance of such revisions for the nation’s future development and prosperity.

Addressing a gathering of lawmakers, government officials, and members of the Philippine Constitution Association (Philconsa), President Marcos outlined his vision for a revitalized Philippines, one equipped to effectively navigate the challenges of the 21st century through essential constitutional reforms.

“The economic well-being of our country is of paramount concern. Various sectors, particularly the business community, have highlighted certain economic provisions in the Constitution that hamper our growth trajectory,” President Marcos remarked.

The President underscored that while the current Constitution has served the nation well for over three decades, specific provisions now impose limitations on economic expansion, foreign investment, and governmental efficiency.