Live Breaking News & Updates on Aambis Owa Party List Rep Sharon Garin File Photo Manila The Chairperson Of House Committee On Economic Affairs Wednesday Said Proposed Amendments To Public Service Act Psa Will Aid Country 39s Recovery And Not Bea Threat Patrimony Assured That Safeguards Are Well In Place Under

AAMBIS-OWA Party-list Rep. Sharon Garin (File photo) MANILA - The chairperson of the House Committee on Economic Affairs on Wednesday said the proposed amendments to the Public Service Act (PSA) will aid the country's economic recovery and will not be a threat to patrimony. AAMBIS-OWA Party-list Rep. Sharon Garin assured that safeguards are well in place under the proposed amendments, dispelling fears posed by the expected influx of foreign investors. "We only want foreign investments to supplement Filipino capital. Kasi, kailangan rin ng tulong ng Pilipino para makapagtayo tayo ng malalaking industriya, malalaking negosyo (Because Filipinos need help to build big industries and businesses) so we can improve the basic services for the Filipinos," she said. Congress has ratified the bicameral conference report on the disagreeing provisions of House Bill No. 78 and Senate Bill No. 2094 which seeks to amend the 85-year-old Commonwealth Act No. 146, otherwise known as the Pub ....

Sharon Garin , Public Service Law , Public Service Act , Senate Bill No , House Committee On Economic Affairs , House Committee , Economic Affairs , Because Filipinos , House Bill , Senate Bill , Commonwealth Act , Public Service , Aambis Owa Party List Rep Sharon Garin File Photo Manila The Chairperson Of House Committee On Economic Affairs Wednesday Said Proposed Amendments To Public Service Act Psa Will Aid Country 39s Recovery And Not Bea Threat Patrimony Assured That Safeguards Are Well In Place Under , Ispelling Fears Posed By The Expected Influx Of Foreign Investors Quot We Only Want Investments To Supplement Filipino Capital Kasi , Ailangan Rin Ng Tulong Pilipino Para Makapagtayo Tayo Malalaking Industriya , Alalaking Negosyo Because Filipinos Need Help To Build Big Industries And Businesses So We Can Improve The Basic Services For , Uot She Said Congress Has Ratified The Bicameral Conference Report On Disagreeing Provisions Of House Bill No 78 And Senate 2094 Which Seeks To Amend 85 Year Old Commonwealth Act 146 , Therwise Known As The Public Service Law In Final Version Of Bill , He Following Services Have Been Classified Asa Public Utility , Ubject To The 40 Percent Foreign Ownership Cap Under Constitutiona Distribution Of Electricityb Transmission Electricityc Petroleum And Products Pipeline Systemsd Water Systems Wastewater , Ncluding Sewerage Pipeline Systemse Seaports And Public Utility Vehicles Any Industry Not Included In The List Will Remain As Services Be Liberalized , Llowing Foreigners To Own Up 100 Percent Thereof The Move Is Expected Attract Foreign Investment In These Sectors And Will Benefit Public With Increased Competition Cheaper Prices Proposed Law Primarily Rationalize Equity Restrictions By Clearly Defining Term Quot Utilities Critical Infrastructure It During Difficult Times Where Most Of Businesses Have Closed , Ot Much Of The Economic Activities Were Allowed , Ore Jobs Are Losing Resulting To An Inevitable Increase Of Inflation Rates And Continuous Decline Philippine Gross Domestic Product Gdp , Hat Our Country Needed All The Assistance From Allied Countries To Invest For Economy Heal , Rise And Recover From Devastating Effects Of Covid 19 Pandemic ,