Failing to pass the amendments to the Public Service Act (PSA) will deprive the Philippines of the needed investments especially in the telecommunications sector, a top official of the Philippine Competition Commission (PCC) said.

“If the PSA is not adopted, then that would mean that investments in the key sector of telecoms will continue to be limited to 40-percent foreign capital, and that will deprive the Philippines of much needed investments, much needed capital needed to upgrade the kind of technological requirements needed for us to be on a level on a field level with our Asean competitors,” said PCC Commissioner Johannes Bernabe in a briefing on Monday, referring to the Association of Southeast Asian Nations.

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