Foreign business groups want Congress to immediately approve the bill seeking to update the 85-year-old Public Service Act to encourage more investments from overseas.
The groups said, “We, the undersigned foreign chambers of commerce in the Philippines commend the Philippine Senate for beginning the plenary debate on Senate Bill 2094 and encourage the Congress to complete passage of this important legislation at the earliest possible time.”
The bill seeks to define and distinguish public utilities from public services, as well as limit public utilities to natural monopolies involving distribution and transmission of electricity, water and sewerage.
In March last year, the House of Representatives approved its version of the bill.
The groups said Commonwealth Act 146 has regulated public services and includes a list of 25 services which are not natural monopolies and not usually considered as public utilities under best international practice.