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Senators reject House plan to lift Charter s foreign ownership cap

BusinessWorld May 27, 2021 | 8:14 pm Bianca Angelica D. Añago SENATORS on Thursday said the chamber was unlikely to prioritize the approval of a resolution seeking to  ease foreign ownership limits in the 1987 Constitution. The Senate does not have time to discuss Charter change (Cha-cha) because Congress is set to adjourn on June 4, Senate President Vicente C. Sotto III told reporters in a Viber group message. “I don’t think we have enough time as it is to take a quick look at the proposal,” he said. “We have five days to go before the sine die adjournment.” The House of Representatives on Wednesday night approved on second reading the resolution seeking to change the three decade Constitution.

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