Senate to prioritize Bangsamoro Basic Law, economic measures

Senate of the Philippines. INQUIRER FILE PHOTO / EDWIN BACASMAS

MANILA, Philippines — The passage of the Bangsamoro Basic Law and certain economic measures that seek to improve the country’s business climate would be among the priorities of the Senate when it resumes its sessions on Tuesday.

“In 2014, the Senate passed important legislation on social and health services, and education, such as the law on automatic Philhealth coverage for senior citizens, the Graphic Health Warning Act, and the Iskolar ng Bayan Act. This year, we are directing our efforts to the economic sector, to ensure that the nation’s progress will not be hindered by events in the local and global markets,” Senate President Franklin Drilon said in a statement on Monday.

As part of the list of the economic reforms, Drilon said, the Senate will harmonize numerous fiscal and non-fiscal incentives and non-fiscal incentives and subsidies to foreign and domestic investors “so that the government can avoid redundancies and revenue loss.”

He said the upper chamber will also look into the proposed amendments of the Build-Operate-Transfer Law, to address policy gaps identified in the present law.

“We need to create a better enabling policy environment for Public-Private Partnerships. We need to invite more investments from the private sector through the most appropriate incentives, and at the same time, our policies need to ensure that the buying public will get fair and reasonable prices and efficient services from such PPP projects or ventures,” Drilon said.

The Senate, he said, will study and review options for a new mining fiscal regime for the country, in order to implement “responsible mining policies, with emphasis on improving environmental mining standards and protecting the rights of affected communities, while promoting economic growth.”

“Our view is that we need to increase the government’s share from mining revenues, since it is imperative that the Filipino people must have their fair share in an economic activity such as mining, which involves the extraction of our natural, finite and limited non-renewable resources. The minerals are owned by the Filipino people, and not by those who have mining licenses,” he said.

Drilon said they will also work on proposed bills seeking to streamline the operations of government agencies, to improve their ability to deal with and manage the various sectors which greatly contribute to the nation’s economic condition.

“The Senate will work on the Customs Modernization and Tariff Act, which aims to institute electronic process of import and export, simplify the customs procedure for ordinary citizens, and increase the operating flexibility of the Bureau of Customs, and as well as on the proposed bill on amendments to the charter of the Bangko Sentral ng Pilipinas (BSP),” said the Senate leader.

“We will also act on the bill creating a Department of Information and Communications Technology that will be tasked to develop ICT systems and further enhance communication services vital to the country’s development,” he added.

Drilon assured that there was a “shared awareness” between the Congress and the Executive on the need to pass the said laws in time for important events in 2015, such as the Asean market integration.

Aside from the economic measures, the Senate leader said they would also prioritize the passage of the Bangsamoro Basic Law, which is currently undergoing public hearings.

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