Photo Release

September 15, 2021

Amending the Public Service Act: Sen. Grace Poe, principal sponsor of Senate Bill No. 2094 or the act amending Commonwealth Act No. 146 or the Public Service Act, answers some of the questions propounded by Senate President Pro-Tempore Ralph Recto during Wednesday’s plenary session September 15, 2021.When asked to explain why foreigners will not be allowed 100 percent ownership of airports while airlines will be allowed 100 percent foreign ownership under the bill, Poe said there are issues and one of them is the acquisition of land that should be taken into account. “What we are trying to do here is to balance both our economic interest as well as our national security. The problem is, if we don’t do calculated risks, we will remain closed all the time. That’s precisely the spirit of this bill, to open up and have more investors come in,” Poe said. Poe, chairperson of the Committee on Public Services, added that opening up the airline industry to foreign investors will unburden government from trying to bail out ailing companies in this sector. (Screen grab/ Senate PRIB)