{"id":241797,"date":"2012-08-03T03:51:34","date_gmt":"2012-08-02T19:51:34","guid":{"rendered":"https:\/\/newsinfo.inquirer.net\/?p=241797"},"modified":"2012-08-03T04:13:32","modified_gmt":"2012-08-02T20:13:32","slug":"address-more-vital-issues-first-makati-business-club-tell-lawmakers","status":"publish","type":"post","link":"https:\/\/newsinfo.inquirer.net\/241797\/address-more-vital-issues-first-makati-business-club-tell-lawmakers","title":{"rendered":"Address more vital issues first, Makati Business Club tell lawmakers"},"content":{"rendered":"

\"\"<\/a>Amending the Constitution\u2019s economic provisions, while good for attracting foreign investments, can wait until after the 2013 congressional and local elections, according to the Makati Business Club.<\/p>\n\n

The MBC said in a statement Thursday that it considered Charter change (Cha-cha) that would allow greater foreign ownership in business and land in the country to be \u201ccritical\u201d in sustaining the increase in investments and employment.<\/p>\n\n

However, it said, the \u201cright time\u201d for amendments to the Constitution\u2019s economic provisions would be just after the 2013 elections.<\/p>\n\n

\u201cWe believe that the Senate and the House of Representatives have matters of greater urgency that they need to address with higher priority between now and the 2013 elections,\u201d the business group said.<\/p>\n\n

The 2013 General Appropriations Act, pending in the House, was one such urgent matter, MBC said.<\/p>\n\n

Another is the bill seeking to restructure the excise tax (also known as sin tax) on alcohol and tobacco products, the group said. The measure, House Bill No. 5727, had been approved on third reading. A counterpart bill is in a Senate committee.<\/p>\n\n

The MBC also pointed to other measures that should take precedence over moves to amend the Constitution:<\/p>\n\n