Bill allowing foreign ownership of public services gets final Senate nod

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File photo shows a cell tower.

The STAR / File

 

MANILA, Philippines — The Senate on Wednesday approved on final reading a bill that would amend the Public Services Act to allow full foreign ownership of firms in key industries such as telecommunications and transport. 

 

Voting 19-3-0, the chamber voted to pass Senate Bill No. 2094 which was co-sponsored by Senate Minority Leader Franklin Drilon and Sens. Grace Poe. Drilon is also the bill's principal author. 

 

Under the 1987 Constitution, public utilities should be 60% Filipino-owned. The bill seeks to amend the law to make a distinction between public utilities and public services, freeing up the latter for full foreign ownership. 

 

Full Story: https://www.philstar.com/headlines/2021/12/15/2148198/bill-allowing-foreign-ownership-public-services-gets-final-senate-nod

 

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