Amended Public Service Act's rules finally issued

RULES implementing changes to the Commonwealth-era Public Service Act (PSA) have been released by the National Economic and Development Authority (NEDA), which expressed optimism that the lifting of foreign ownership limits would lead to increased investments.

Republic Act (RA) 11659, which amended the PSA or 1939's Commonwealth Act 146, was signed into law on March 21 last year by then President Rodrigo Duterte. RA 11659's implementing rules and regulations (IRR) were supposed to have been issued by concerned agencies and the NEDA within six months after the law's effectivity.