Without any fanfare, the House of Representatives on Wednesday approved on second reading a resolution seeking amend certain economic provisions in the 1987 Constitution.
This developed as House Speaker Feliciano Belmonte, Jr. welcomed the initial approval of Resolution of Both Houses No. 1 which he principally authored.
“I am very extremely happy about this development. This is the first attempt that we will do amendments to the economic provisions of the Constitution,” Belmonte told reporters after the approval of RBH No. 1 in plenary session.
Belmonte said the House leadership would attempt to pass the Cha-cha resolution on third and final reading next week.
He said only three-fourths vote of all House members, or at least 217 of 290-member House are needed to begin the amendments to the Charter.
As soon as the House obtains the constitutional requirement of three-fourths vote of passing a regular bill or resolution, Belmonte said that the RBH No. 1 will immediately be transmitted to the Senate for action.
“There is no need for an approval from the President, but only two-third vote of all House members,” Belmonte said.
Belmonte’s RBH No. 1 seeks to amend only the economic provisions in the Constitution to lift the ban on foreign ownership of lands and businesses.
The measure seeks to add the phrase “unless otherwise provided by law” in specific areas of the Constitution: natural resources, foreign ownership of land, media, education and advertising.
Cavite Rep. Elpidio Barzaga, Jr., vice chair of the House committee on constitutional amendments, also welcomed the approval of the economic Charter change resolution on second reading in the Lower House.
Barzaga stressed the need for Congress to review the Constitution and consider possible amendments to some of its economic provisions to make it more attuned to the present time.