Amid political turmoil
NANCY REAFFIRMS SENATE'S COMMITMENT TO PH ECON GROWTH
...says 'fake' initiative carries negative implications

Senator Nancy Binay reaffirmed the Senate's commitment to economic growth and stability, addressing concerns about the ongoing political turmoil sparked by Charter change and its potential impact on investors.

Contrary to any misconceptions, Binay said the Senate has consistently demonstrated "pro-development" and "pro-progress" stance, evident in the passage of critical economic reforms such as the Public Service Act (PSA), Foreign Investments Act (FIA), and the Retail Trade Liberation Act.

Binay emphasized that these groundbreaking economic measures are clear indicators of the Senate's dedication to streamlining processes and enhancing the country's economic trajectory.

"Just to be clear, ang Senado po ay pro-development and pro-progress--kaya nga nagpasa po kami ng vital economic reforms tulad ng PSA, FIA, and the Retail Trade Liberation Act, para mas mapabilis ang pagsikad ng ating ekonomiya," Binay said in a statement.

The senator clarified that blame should not be directed at the Senate, emphasizing it was not responsible for the "fake" people's initiative to amend the Charter, which carries negative implications for the economy.

"Hindi po nanggaling sa Senado ang paglarga ng pekeng people's initiative," Binay said. "Alam naman po ng lahat kung saan ito nagsimula, binuo at inilatag."

"Dapat alam po ng mga taong nasa likod ng people's initiative na may negatibo't direktang impact ang mga ganitong patagong galawang Cha-cha sa ating ekonomiya, pero itinuloy pa rin nila," she added.

Despite these challenges, Binay asserted that the Senate remains steadfast in its commitment to addressing economic issues with prudence and foresight.

"Investors value stability, and we are dedicated to addressing this matter with the seriousness it deserves. Rest assured, the Senate's commitment to economic growth and foreign investment remains unwavering," Binay stressed.

"Hindi po natin hahayaang manaig ang interes ng iilan, kasi palaging talo ang taumbayan," she concluded.