MANILA, Philippines - The Makati Business Club (MBC) is urging Malacanang to certify as urgent the bill that would rationalize the revenue-sharing scheme between the government and mining companies so it may be passed within the year.
In a statement issued late Tuesday, MBC said that while the issuance of the executive order is an important step to resolving the bottlenecks that prevent the development of the Philippine mining industry, it is concerned that investment inflows would be slowed down by the lengthy legislative process.
“While we understand that there may be good reasons for this moratorium, we strongly suggest that this be accompanied by the President’s certification of the draft bill as urgent and by expeditious action by our legislators for its passage within 2012 in order to avoid slowdowns to investment inflows that are crucial to the country’s aim for inclusive economic growth,” MBC said.
After the issuance of the new mining policy on Monday, Environment Secretary Ramon Paje said that the moratorium on new mining agreements stays until a law rationalizing revenue sharing takes effect.
MBC lauded the government’s clear designation of “no-go” zones for mining, the renewed drive for an improved sharing of revenues, and the emphasis on the primacy of national laws over local ordinances, saying these policies paves the way for reforms in the industry.
“We believe that the new EO paves the way towards a reformed and responsible mining industry – one that assures the productive exploration, development, and utilization of the country’s minerals, while guaranteeing the people’s right to a sustainable environment and a more equitable distribution of wealth” it said.
MBC said, however, that a lot of work still needs to be done. These include the creation of a more comprehensive national framework for the development of the minerals industry and the finalization of a definitive map that identifies the boundaries of zones not open to mining.
Under Section 1 of the executive order, a total mining ban would be implemented in at least 78 ecotourism sites in the National Tourism Development Plan (NTDP), including Palawan and Boracay. Other ecotourism sites being eyed for inclusion in the mining ban are in Cebu, Iloilo, Davao and Subic in Zambales and Clark in Pampanga.
The NTDP, according to Tourism Secretary Ramon Jimenez, is the product of a thorough inventory of tourist attractions in the Philippines.
MBC also encourages the government to incorporate global best practices into the national policy, including internationally-accepted environmental standards and models on the sharing of revenues and benefits.