Federal states must be ready for additional resources: Teves


Posted at Aug 10 2018 11:25 AM

Federalism advocates stage a rally in downtown Manila on March 1, 2018. Jonathan Cellona, ABS-CBN News

MANILA -- The government should ensure that federated states can handle additional resources if the proposed federal constitution is adopted, former finance secretary Gary Teves said Friday.

Teves said the draft charter from a Palace-backed consultative committee could be approved in phases, setting aside controversial portions.

"It's like in a family, if you want to give to the small children and they're not prepared, the money may not be used efficiently because they don't have the capacity and efficiency to handle additional resources," Teves told ANC's Early Edition.

Teves said there might not be enough time to approve the entire draft charter with the 2019 midterm elections looming.

The former finance chief said he was hoping Congress would amend the draft to lift foreign ownership restrictions on Filipino enterprises.

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