Faint prospects

Two reports this week—a rather misleading headline about legislative intentions toward Charter change in Tuesday’s Philippine Daily Inquirer, and the issuance of a long-expected correction to a Securities and Ex change Commission (SEC) rule on foreign equity limits—have fired the enthusiasm of constitutional reform advocates, and have seemingly raised the possibility that long called for adjustments, particularly in the economic provisions seen as a hindrance to increased foreign direct investment, might be made in the new Congress.

The anticipation, however, may be misplaced. At best, the various statements are mere window-dressing at this point. While they do provide an opportunity to subject the issue to more public discussion than it has had in recent months, there is nothing about the Aquino administration’s record on Charter change—particularly in view of its “success”  in the recent elections—to suggest that the President, his legislative bloc, or economic managers have had a sudden change of heart.