In a recent hearing in Congress, representatives of the Foundation for Economic Freedom repeated the chant that has become for some reason louder and louder in recent months: The lifting of Constitutional restrictions on public utilities will attract foreign investments, which the country direly needs.
I’m not sure who is the ideologue or ideologues for this ideological stance. Are its two gurus (the two-man advisory board) former Marcos technocrats Cesar Virata and Gerardo Sicat, architects of the debt-driven growth that lead us to the economic catastrophe of the 1980s? Or are they the Foundation’s chairman Roberto de Ocampo and its vice-chairman Romeo Bernardo, both of whom are directors of the Singaporean-controlled Globe Telecoms?
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