Abolish the House, not the Senate.

Byline: Neal H. Cruz

ITS CHA-CHA TIME AGAIN. THERE ARE TWO resolutions choo-chooing through the congressional railroad like express trains proposing to convene Congress into a constituent assembly, or Con-ass (ass, what an apt name) to amend the Constitution. One was authored by Speaker Prospero Nograles which seeks to remove the 60-40 investment ratio provision in the Charter for foreign investors. All the successive Constitutions that we had since Commonwealth days have that provision: that foreign investors can own a maximum of only 40 percent of a company in the Philippines. The majority share of 60 percent should be owned by Filipinos. Nograles wants to remove that so that foreigners can own as much as 100 percent of companies engaged in the exploitation of natural resources such as mining, logging, fishing, fossil fuels exploration, etc. That will encourage foreign …