Senator Grace Poe sponsored in plenary proposed amendments to the Public Service Act – an 85-year-old law that has probably never envisioned a Philippines with a population of 110 million.
The amendments aims to clear the ambiguity between “public service” and “public utility”, the development of a more flexible methodology for rate setting, changes to the P200 per day violation sanction, and the safeguarding of the nation’s sovereignty in terms foreign investments.
On the concerns regarding foreign ownership, Poe noted that her committee included a provision which will require National Security Council to initiate a review of foreign investments that may result in the control of critical infrastructure of the country.
“We assure you, that no one foreign country would position itself atop the food chain and take control of critical aspects of running the Philippines,” Poe said.
This statement comes after criticisms on the amendments possible flimsy handling of the nation’s sovereignty rose up.
“The amendments would also help in jumpstarting the post-pandemic economy and create competition in a healthy manner. This competition would then turn into a competition for high quality and low prices, two things Filipinos are in dire need of, especially during these times,” Poe added