Consistency in government policies would attract foreign investors more effectively than altering the economic provisions of the Constitution, a Liberal Party senator said on Sunday.
The P1-billion penalty paid by Philex Mining Corp. for the tailings spill that occurred at its Padcal mine site in August 2012 may have been “low,” according to Sen. Sergio Osmeña III.
Employees of Philex Mining Corp. staged a protest ritual in front of the Mines and Geosciences Bureau (MGB) headquarters in Quezon City on Wednesday to press for the reopening of the company’s Padcal mine in Benguet that the government ordered shut after a massive mine tailing spill in August last year.
The country’s chief economist said the impressive 6.5-percent growth for 2012 should be sustained for several years to allow it to seep through the grassroots and benefit ordinary Filipinos.
Unless Philippine laws penalize a bank that accepts cash deposits of questionable origin, it would be useless to approve amendments to the Anti-Money Laundering Law (Amla), a senator has pointed out.
