In a privilege speech, Rep. Isidoro Real (Lakas, Zamboanga del Sur) said embarking on Cha-cha (Charter change) at this time "will only slow down if not derail the country’s economic momentum."
He said the peso-dollar exchange rate has been stable, inflation has been reined in, foreign investments are coming in, and the economy in general is growing at a modest rate.
These developments augur well for the entire nation and its people and should not be disturbed, he said.
In the case of foreign investors, for instance, Real pointed out that these businessmen "will be in suspended animation" as they would be in the dark on what political system would be put in place.
They will not come in, and in the case of those who have already invested in the country, they will not expand their operations until they are sure of the system in place, the leaders that would run it and their policies, he said.
He said the country will be plunged in chaos if there is Cha-cha since many sectors will resort to mass actions to lobby for the amendment of the constitutional provisions they want revised.
He stressed that the process of changing the Constitution – whether through a constituent assembly or a constitutional convention – will entail huge costs that could run into billions, expenses the nation cannot afford at this time of budget deficits.
The Lakas congressman urged his colleagues to be content with the present Charter, which was drafted by a commission appointed in 1986 by then President Corazon Aquino.
After all, he said, the success of the nation lies not in its Constitution but in the "selfless dedication of its leaders to their sworn duties and in the willingness of the people to change their attitude."
Other House members who have expressed opposition to Cha-cha because it would hurt the economy are Representatives Oscar Moreno of Misamis Oriental and Cynthia Villar of Las Piñas.
Moreno said instead of changing the Charter, lawmakers and the rest of the national leadership should work for good government, transparency and consistency of policies.
Loud calls for Cha-cha in the House have died down after the Senate, which would be abolished in most constitutional change proposals, put its foot down on the initiative. – Jess Diaz