Anti-Cha-cha UP economists hit

APRO administration lawmaker on Monday scored a group of University of the Philippines (UP) economists for opposing Congress’ initiative to amend the Constitution’s restrictive economic provisions.

“This group is anti-development, antiemployment, anti-economic progress, and anti-poor. They are trying to block economic Charter reforms which we believe will bring in more foreign direct investments (FDIs), which in turn will accelerate our country’s economic development, and create more job and income

opportunities for our people,” said Cagayan de Oro City Rep. Rufus Rodriguez, chairman of the House Committee on Constitutional Amendments.

He said UP, where he obtained his law degree, is known as the bulwark of activism and academic freedom, where progressive ideas flourish.

“But its economists and other academicians should not find fault in every proposal from government, including Congress. They should not oppose just for the sake of opposing,” Rodriguez said.

In a position paper, the UP economists said instead of proposing economic Charter amendments, lawmakers should attend to more important factors that affect FDIs, including infrastructure, connectivity, corruption, and rule of law.

Rodriguez, whose undergraduate degree is AB Economics at De La Salle University graduating summa cum laude, said economic constitutional amendment proposals and other issues affecting investments are not mutually exclusive and could be addressed together.

“I do not agree that the other ingredients for attracting investments are more important than removing foreign equity restrictions in the Charter. These limitations are the root cause of the reluctance of foreign businesses to invest in our country,” he said.

He reminded the UP group that Congress has been addressing other investments-related issues by passing the necessary laws, including the recently enacted Ease of Doing Business Act, the reduction of the corporate income tax, and the grant of other tax incentives.

While criticizing the UP economists, the Mindanao lawmaker lauded the Foundation for Economic Freedom (FEF) for supporting economic Charter reform proposals.