From left to right: Quezon City 4th district Rep. Marvin Rillo, Iloilo 1st district Rep. Janette Garin, Lanao del Sur 1st district Rep. Zia Alonto Adiong (Ellson Quismorio/ MANILA BULLETIN)

The claim of the Makabayan bloc that economic Charter change (Cha-cha) would worsen inflation in the country simply doesn't add up, House of Representatives members have said. 

These solons include House Majority Leader Iloilo 1st district Rep. Janette Garin, Quezon City 4th district Rep. Marvin Rillo, and Lanao del Sur 1st district Rep. Zia Alonto Adiong, who faced House reporters in a press conference Thursday, March 7. 

“Will economic Cha-cha cause an increase in inflation? Ang sagot ko po, pasensya na po sa mga nagsabi, pero isa po yang malaking kalokohan at kasinungalingan. Bakit? Tila binibigyan natin ng maling pag-intindi ang taong-bayan,” Garin said. 

(My response to that, and I apologize to the one who said, but its a big ruse and lie. Why? We're seemingly giving the wrong interpretation to the people.) 

“Kaya kung mayroon man nanlilinlang sa atin na economic Cha-cha ay tataas ang inflation, pasensiya na po but it’s a big lie,” she added. 

(If someone is trying to deceive us that economic Cha-cha will drive up inflation, I'm sorry but it's a big lie.) 

Garin says the primary objective of the economic amendments to the Constitution is precisely to encourage the influx of foreign direct investments (FDI), which will result in competition in the market. 

“Napakasimple lang noon eh. Kapag may kompetisyon, bababa ang presyo. It’s as simple as that. Huwag na natig linlangin ang taong-bayan. Siguro iyong iba, hindi naintindihan anong meaning ng inflation. Ang ibig sabihin noon kapag tumaas iyon tataas ang mga bilihin, ganon iyon, tataas ang presyo,” she explained. 

(It's very simple. If there is competition, prices will go down. It's as simple as that. Let's not deceive the people. Maybe the others don't understand the meaning of inflation. What it means is, if it goes up, then prices of goods will go up.) 

“Paano tataas kung marami ang nagbebenta? Kapag may economic Cha-cha, ang ibig sabihin ay bukas at magkakaroon ng kompetisyon,” she added. 

(How will prices go up if there are many players? Economic Cha-cha means openness and presence of competition.) 

Rillo and Adiong echoed the stance of Garin. 

READ THIS: 

https://mb.com.ph/2024/3/5/romualdez-on-february-2024-inflation-spike-we-empathize-with-pinoys-struggles 

"We are inviting foreign investors, we are telling investors to invest in our country and if they do that, we bring in more money. If we bring in more money, we give more jobs to the people, we get more taxes from these investors,” Rillo also explained. 

“So, I beg to disagree with my colleagues in the Makabayan bloc dahil parang sinabi nilang 1+1 = 3. Kasi kaya nga tayo nagpapasok ng hanapbuhay sa bansa para umasenso 'yung bansa natin," he added. 

(It's like they're saying 1+1=3. The very reason why we're trying to create jobs is to help our country achieve progress.) 

Adiong also endorsed economic Cha-cha, which the House has been pursuing under Resolution of Both Houses (RBH) No.7. 

"Ang economic Cha-cha po talaga is to (The purpose of economic Cha-cha is to), aside from inviting foreign direct investors, 'yung mga companies nila (and their companies), this will also create employment in (several) areas. And that would create, spur development, not only development, potential income revenue to LGUs (local government units), to the national treasury, as well as create jobs for ordinary citizens,” he said. 

ACT Teachers Party-list Rep. France Castro said earlier Thursday that amendments to the Constitution contained in RBH No.7 will result to an increased inflation rate.

Coincidentally, inflation in February rose to 3.4 percent, from the previous month's 2.8 percent.