
NEDA releases IRR of new Public Service Act
The National Economic and Development Authority has released the implementing rules and regulations of Republic Act No. 11659 or the Amendments to the Public Service Act.
The National Economic and Development Authority has released the implementing rules and regulations of Republic Act No. 11659 or the Amendments to the Public Service Act.
The amendments made to the Public Service Act and the Foreign Investment Act are expected to bring an additional P299 billion foreign direct investment (FDI) in the next five years.
Presidential aspirant Ka Leody de Guzman on Wednesday opposed the law amending the Public Service Act, saying the Philippines has become a country for foreigners.
Senator Bong Go expressed optimism that the law amending the Public Service Act, which President Rodrigo Duterte signed on Tuesday, would help boost the Philippine economy alongside other pandemic recovery efforts being pursued by the government.
President Rodrigo Duterte led the ceremonial signing of a law, amending the Public Service Act and easing foreign equity restrictions on various industries in Malacañang Palace on Monday.
House Committee on Ways and Means chairperson Joey Salceda is confident that the signing into law of the measure amending the Public Service Act “will usher in a decade of unprecedented growth in foreign investments, as long as the next President can back the reforms up with market-friendly policies and actions.”
President Rodrigo Duterte led the ceremonial signing of a law, amending the Public Service Act and easing foreign equity restrictions on various industries in Malacañang Palace on Monday.
House Committee on Ways and Means chairperson Joey Salceda said the measure amending the Public Service Act (PSA) has been transmitted to Malacañang.
House Committee on Economic Affairs chairperson Sharon Garin has assured the public that the proposed amendments to the Public Service Act will not become a threat to the country’s patrimony.
MANILA – Senator Grace Poe on Monday said pending legislation will mitigate the impact of power outages and power rate hikes in the future.