THIS is the view of constitutionalist and retired Supreme Court Associate Justice Vicente Mendoza.
In an interview with The Manila Times, Mendoza said that the 1987 Constitution should cope with the challenging times, especially on economics.
Mendoza said that the economic provisions of the constitution should be updated. He cited the 60-40 sharing of investments which should be revisited.
The 1987 Constitution’s “60-40” rule that limits foreign ownership of companies in the Philippines to 40 percent.
“It is about time for charter change. Yung 60-40 percentage dapat mare-visit,” Mendoza said.
The retired magistrate added that even the provision on media ownership which should be 100 percent and purely owned by Filipinos only is being violated.
Without naming the entities involved, he argued that violation of media ownership is being done by some media companies.
“Yung 100 percent sa media is being violated left and right,” he said.
A television station is suspected to be not wholly owned by a Filipino corporation but by a foreigner.
The Philippine Constitution was revised three times, from the Malolos Constitution during the time of President Emilio Aguinaldo, to the 1935 Constitution of the first Republic, the 1973 Constitution after the martial law era and the 1987 Constitution after the Edsa Revolution in 1986.