Latest Breaking News On - He department of justice doj said on wednesday quot the new law now clearly defines what public utilities are electricity transmission and distribution - Page 1 : comparemela.com

Justice Secretary Menardo Guevarra (File photo) MANILA - The new law amending the Public Service Act (PSA) recently signed by President Rodrigo Duterte now clearly defines which businesses are considered as public utilities that will remain covered by the restrictions on foreign capital enshrined in the Constitution, the Department of Justice (DOJ) said on Wednesday. "The new law now clearly defines what public utilities are: electricity transmission and distribution, petroleum pipeline transmission, water and sewerage pipeline distribution, seaports, and PUVs (public utility vehicles). Their foreign ownership will continue to be limited by the Constitution (maximum of 40 percent of capital). All other public service industries will be liberalized, allowing foreign capital to the extent of 100 percent," DOJ Secretary Menardo Guevarra said in a message to reporters. Under the amended PSA, telecommunications, railways, expressways, airports, and shipping industries will be cons

Franklin drilonRodrigo duterteMenardo guevarraDepartment of justicePublic service actPresident rodrigo duterteCommonwealth actRepublic actJustice secretary menardo guevarra file photo manila the new law amending public service act psa recently signed by president rodrigo duterte now clearly defines which businesses are considered as utilities that will remain covered restrictions on foreign capital enshrined in constitutionHe department of justice doj said on wednesday quot the new law now clearly defines what public utilities are electricity transmission and distributionEtroleum pipeline transmissionAter and sewerage pipeline distributionNd puvs public utility vehicles their foreign ownership will continue to be limited by the constitution maximum of 40 percent capital all other service industries liberalizedLlowing foreign capital to the extent of 100 percentUot doj secretary menardo guevarra said ina message to reporters under the amended psaNd shipping industries will be considered public services