THE Philippine Competition Commission (PCC) supports legislative initiatives to amend certain provisions of the Public Service Act (PSA), particularly on foreign equity limits in the transportation and telecommunications industries. It still refers to certain business activities such as ice plants and canals as public services or public utilities. The Constitution limits foreign ownership in public utilities to 40 percent, and reserves 60 percent for Filipino citizens or corporations. Albay Rep. Joey Salceda has filed House Bill 4468 that seeks to amend the definition of “public services” and “public utilities” under the law. “So, there will be only five public utilities whose foreign ownership will be restricted to 40 percent,” he said.

Source: Manila Times March 15, 2017 17:26 UTC