A “tidal wave” of onerous and disadvantageous contracts in favor of private companies and investors should be expected by the public if the proposed revision of the economic provisions of the 1987 Charter is allowed.
Bayan Muna Reps. Ferdinand Gaite and Eufemia Cullamate aired this warning as they assailed the alleged stealth by which the House Committee on Constitutional Reforms approved a resolution proposing amendments to political and economic provisions of the Charter.
Proponents of the constitutional amendment want to insert the phrase “unless otherwise provided by law” on economic provisions that will limit participation of foreign investors. Cullamat said the proposed amendments to the economic provisions were also detrimental to indigenous peoples who have been fighting off landgrabbers for decades.
Authors noted that the 1987 Constitutiion could be the only charter in the world that has existed for more than 30 years “without even a single amendment.”
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