Senate, House reach Cha-cha talks ‘consensus’

The President earlier pointed out that the existing economic provisions are hindering potential investors from proceeding with their operations in the country. (File photo: Joan Bondoc via Philippine News Agency/Facebook)

“So, that is the legislative state of play as it were. The Senate is continuing with the hearings. The House (of Representatives) has already passed on second reading. What is more important than all of that for me, is that it is practically the same resolution. And that is that’s for me is the key point in this process. We have arrived at a consensus,” President Marcos said in a media interview in Prague on Friday.

“We all knew how this when this began, how contentious this was. Well, we seem to be going down a common road now between the two Houses. So, that’s the, that for me is the important thing,” he said.

House Speaker Martin Romualdez said the lower chamber has consumed a substantial amount of time deliberating on the RBH 7 and he will let the discussions focus on that.

The House of Representatives approved on Wednesday Resolutions of Both Houses No. 7 (RBH 7) which seeks to allow increased foreign ownership in vital industries.

Meanwhile, Senate President Juan Miguel Zubiri said the Senate is on track and has about three more hearings left, and “then we’ll be taking it up on the delivery.”

The President earlier pointed out that the existing economic provisions are hindering potential investors from proceeding with their operations in the country.