Published January 8, 2021, 5:03 PM
The Foundation for Economic Freedom (FEF) has expressed support for an initiative to hold hearings on Constitutional Amendments with the objective of amending the restrictive economic provisions of the Constitution.
But FEF also equally stressed the need to introduce the phrase “unless otherwise provided by law” as called for by House Speaker Lord Allan Velasco’s Joint Resolution No. 2.
FEF, which is chaired by former Finance Secretary Roberto de Ocampo, said the phrase should apply to the Constitution’s paragraph 1, Section 2 of Article XII (National Patrimony and Economy), which provides for the exploitation of natural resources only to corporations whose capital is owned sixty percent by citizens.