[Blueboard] Newsbriefs 27 July Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Wed Jul 27 16:54:45 PHT 2005


*Newsbriefs 27 July Afternoon
Simbahang Lingkod ng Bayan*

*Arroyo: Method of Charter change up to Congress *(inq7.net)*
*

President Gloria Macapagal Arroyo is leaving it up to Congress to decide 
how to amend the Constitution and change the form of government.

"I don't want to preempt the decision of Congress. It's within their 
exclusive priority on how to amend the Constitution," the President said 
at a press conference in Malacañang on Wednesday.

"In the end, it's still Congress who will decide once they sit as an 
assembly. I don't want to speculate," she added.

Arroyo also reiterated that while she expressed her preference for a 
constituent assembly, it is up to Congress to decide on what mode to 
use--constituent assembly or constitutional convention--to introduce 
amendments to the Charter.

In the constituent assembly method, Congress amends the Charter; in a 
constitutional convention, a separately elected body amends the 
Constitution. In both cases, the amendments must be ratified in a 
plebiscite.

*Palace eyes body to study Charter change* (abs-cbnnews.com)

President Gloria Arroyo on Wednesday said Malacañan is forming a 
preparatory constitutional commission that will help Congress amend the 
Constitution and allow a shift to a federal-parliamentary form of 
government.

Mrs Arroyo said she will ask professor Jose Abueva, former University of 
the Philippines president and a known supporter of federalism, to join 
the commission.

"Yes, we will be doing this soon," she said in her first press 
conference in Malacañan Palace after Monday's State of the Nation 
Address (SONA).

The Chief Executive also downplayed reports that she will not resign 
from office if a federal-parliamentary government is adopted.

*Zamora**: We'll give GMA her day in court *(abs-cbnnews.com)*
*
San Juan Rep. Ronaldo Zamora on Wednesday said the political opposition 
will give President Arroyo her day in court as long as the same rules on 
impeachment used in former president Joseph Estrada's trial will be 
used.  "We will play by the rules. The same requirements during former 
president Estrada's case and other impeachment complaints should be 
followed," Zamora said.

Zamora, who is tasked to lead the opposition's legal team in the 
impeachment process, said the minority remains confident that it will 
gather the 79 signatures needed in order to transmit the Articles of 
Impeachment to the Senate.

He said the opposition has three months or 60 session days to gather the 
needed number of signatures.  The opposition has so far gathered only 42 
signatures for the complaint* *

*Proposed 2006 budget set at P1 trillion* (abs-cbnnews.com)

President Gloria Arroyo on Wednesday said the Palace will submit a 
proposed 2006 national budget of P1 trillion to Congress next month.

"The deadline is usually one month after Congress opens for session so 
that's August 25," the President said during a press conference in 
Malacañan.

She added that new taxes will fund the proposed budget. Congress earlier 
passed a P907-billion budget for 2005.

Congress opened its second regular session Monday.

*Shares close higher on follow-through buying* (XFN-Asia)

Share prices closed higher for the second straight session on 
follow-through buying in selected blue chips that have posted robust 
second quarter earnings, or are expected to do so over the coming days, 
dealers said.

They noted however that profit taking on counters deemed to have become 
over-valued, capped the market's gain, dealers said.

Easing political tensions with fears of street protests abating for now 
while Congress turns its attention to the impeachment of President 
Gloria Arroyo, also underpinned the generally upbeat sentiment.

The composite index closed up 14.96 points or 0.76 percent at 1,974.54, 
its high for the day. It touched a low of 1,959.58.  Volume was 436.28 
million shares worth 1.09 billion pesos.  The broader all-shares index 
gained 5.92 points to 1,186.43.

Peso at 56.145:$ mid-trade today

 

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