PRESIDENT Rodrigo Duterte steered lawmakers to go the amendments to the Retail Industry Liberalization Act (RTLA), Public Carrier Act (PSA), and the International Investments Act (FIA).
“I shall by no means stop to implore Congress to go important, crucial law in addition to push all the executive to verify not anything lower than the overall restoration and revitalization of our nation,” Duterte mentioned in his remaining State of the Country Cope with (SONA).
“I wish to renew my name to Congress to right away go amendments of precedence legislative measures such because the overseas funding Acts, the Public Carrier Act and Retail Industry Liberalization Act,” he added.
The RTLA modification seeks to decrease the paid-up capital for overseas retail enterprises from the present P120 million ($2.5 million) to P50 million whilst the
The amendments to the PSA suggest that public utilities be described and outstanding from public products and services. Public utilities can best have “herbal monopolies” within the distribution and transmission of energy, water and sewerage whilst the invoice that seeks to amend the International Investments Act eases laws on overseas companies.