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PRRD ratifies Public Service Act amendment

President Rodrigo Roa Duterte ratified the Public Service Act (PSA) amendment during the ceremonial signing of the law in Malacañang on Monday, 21 March 2022.

This amendment will generate more jobs and lower business costs in the country. The definition of public utilities is limited to industries such as the distribution and transmission of electricity, petroleum and petroleum products, pipeline transmission systems, water pipeline distribution, wastewater pipeline systems, seaports, and public utility vehicles. The above mentioned are the only industries subjected to the 40-percent foreign ownership restriction on public utilities as mandated by the 1987 Constitution.

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Liberalization of public service: An amendment to the 85-year-old Public Service Act

On December 15, 2021, senators approved on third reading the Senate Bill No. 2094; garnering votes of 18-3-0 in favor of amending the Commonwealth Act No. 146 or the Public Service Act of 1936. The country was long held back by its underinvested public service infrastructure which in turn prohibited healthy market competition and resulted in high service costs that burden both direct consumers and exporters in general.

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Amendment of Public Service Act aimed to be passed in Duterte administration

The bill amending the Public Service Act is aimed to be passed within the remaining term of the Duterte Administration.

Department of Finance (DOF) Secretary Dominguez reported during his Sulong Pilipinas 2021 speech that to fully liberalize the Philippine economy, amendments to the Foreign Investments Act, The Public Service Act, and the Retail Trade Liberalization Act will be pushed through as these three bills are certified as urgent by the President.

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