Philippines' largest business group calls on gov't to limit Cha-cha to economic provisions

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MANILA - The country’s largest business group on Monday said the government should focus on enacting bills that promote economic recovery and limit possible amendments to the Constitution to its econo

mic provisions.

But Yujuico said the amendments “should be done in a deliberate and careful manner that will continue to make the Constitution withstand various economic interests but especially the test of time.” Watch more in iWantTFC The PCCI’s position contrasts with that of another group, the Foundation for Economic Freedom , which said last week that the phrase “unless otherwise provided by law” in those restrictive provisions will give Congress the flexibility and leeway to amend those provisions to conform with present economic and technological conditions.“We caution that amendments to the Constitution be confined to the economic provisions only.

It said the Corporate Recovery and Tax Incentives for Enterprises Act, and the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery Act should also be prioritized as these will support the country’s strong recovery.

 

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