MANILA, Philippines — A bill amending the Public Service Act (PSA) to ease foreign equity restrictions on public services will now only need the signature of President Rodrigo Duterte. In their respective sessions on Wednesday, the Senate and the House of Representatives ratified the bicameral conference committee report, which reconciled the conflicting provisions between Senate Bill No. She pointed to a provision prohibiting foreign state-owned enterprises from owning capital in any public service classified as a public utility or a critical infrastructure. ADVERTISEMENT“No person shall be deemed a public utility unless otherwise subsequently provided by law,” according to the measure. READ: Bill revising Public Service Act awaits final Senate nodATMSubscribe to our daily newsletter By providing an email address.

Source: Philippine Daily Inquirer February 03, 2022 00:09 UTC