Camarines Sur 2nd district Rep. LRay Villafuerte (left), Senate President Francis Escuedro (Rep. Villafuerte's office, Facebook)

Camarines Sur 2nd district LRay Villafuerte chooses to be optimistic when it comes to the ultimate fate of the economic Charter change (Cha-cha) measure in the Senate, especially with Senate President Francis "Chiz" Escudero now at the helm.

“I prefer to look at the glass as half full rather than half empty in light of the commitment of both Speaker Martin and Senate President Chiz to work on mending what needs mending as far as inter-chamber working relationship was concerned,” Villafuerte said in a statement Sunday, May 26.

Escudero recently took over the Senate President’s post from Senator Juan Miguel "Migz" Zubiri, who pundits said was incapable of consolidating support for Resolution of Both Houses (RBH) No.6 in the 24-member chamber.

The lifting of the restrictive economic provisions of the 1987 Constitution is spelled out in RBH No.6, a measure that was purposely copied by the House of Representatives is hopes of holding a plebiscite for Cha-cha this year.

The House version, RBH No.7, was approved on third and final reading last March. The measure, which was supported by Villafuerte, called for the lifting the 40 percent cap on foreign ownership of certain Philippine businesses, among other things.

One reason for Villafuerte's optimism is Escudero's pronouncement that discussions on RBH No.6 would be withdrawn from the subcommittee chaired by Senator Juan Edgardo Angara and returned to the mother Committee on Constitutional Amendments and Revision of Codes headed by Senator Robin Padilla. Padilla is a staunch advocate of Cha-cha.

“Fingers crossed that the proposed reforms to take out the restrictive economic provisions in our Constitution that continue to impede FDI (foreign direct investment) inflows can still forge ahead in the Congress when it reopens in July with Senator Chiz as Senate president,” Villafuerte said of his fellow Bicolano.

In the event that the Senate gives its nod to RBH No.6, Villafuerte said he “expects smooth sailing for the passage of the final congressional bill at the Bicameral Conference Committee level—and its subsequent ratification by both the Senate and the House—because the House-approved RBH No.7 was patterned after RBH 6 in limiting the lifting of the 60-40 equity rule in the public services, education and advertising sectors".

Romualdez and Escudero are expected to meet soon to lay down the legislative agenda for the final year of the 19th Congress.