President Aquino, in his valedictory address before Congress on Monday, asked lawmakers to pass the proposed Bangsamoro basic law (BBL) and the measures aimed at rationalizing fiscal incentives (RFI) and ending political dynasties in the country.
Delivering his sixth and last State of the Nation Address (Sona) at the joint session of the Senate and the House, the President took the opportunity to press Congress to pass the BBL that would replace the Autonomous Region in Muslim Mindanao with a new entity, as part of the government’s peace agreement with the Moro Islamic Liberation Front.
Mr. Aquino dared administration critics to provide a good alternative to the BBL, saying doing otherwise would mean that it would simply guarantee that the country may not enjoy peace.
“There are a number of measures which I hope will be passed during the 16th Congress. Foremost of these is the Bangsamoro basic law. To those who oppose the measure, it is your obligation to suggest a better alternative,” he said in the vernacular.
He also urged Congress to pass the RFI bill, a measure that would streamline tax breaks
given to businesses to ramp up government revenues.
“We call on Congress to immediately pass the Unified Uniformed Personnel Pension Reform Bill so that the national government can fund the pension of our men in uniform,” Mr. Aquino said.
Funding the pension of uniformed personnel, he said, would require trillions of pesos and an enabling law is needed before the national government could release funds.
Mr. Aquino voiced hope that the 2016 budget bill would quickly get the nod of lawmakers so that progress would not be derailed on the last year of his administration.
The President then thanked Congress for passing several administration-endorsed bills, including the new Competition law, the Cabotage law, the reproductive-health bill, the “sin” tax law.
Mr. Aquino acknowledged that “a responsible Congress can truly go a long way in helping push reform
and progress.”
He also enumerated his administration’s achievements such as the “record rise” in foreign direct investments (FDI) to P2.79 trillion from 2010, saying this is a “clear indicator” of restored investors’ confidence in doing business in the Philippines.
The President noted that FDI rose significantly last year, citing a Bangko Sentral ng Pilipinas report on net FDI inflows from January to November 2014, amounting
to $5.7 billion from $3.5 the
previous year.
“Now, for the first time, we were given investment grade status,” Mr. Aquino said, sending signals to investors about better prospects of doing business in the country.
He also credited the steady rise in revenue collection that enabled the government to bankroll various public works projects to boost business environment for the benefit of the people.
“Dumating tayong pinakamataas na sa kasaysayan ang P778.6 billion na koleksyon noong taong 2008. Tinambakan natin ito. Noong 2012, P1.06 trillion ang nakolekta ng BIR [Bureau of Internal Revenue], ang unang pagkakataon sa kasaysayang tumawid ng isang trilyong piso ang ating koleksyon,” he said.
“Nitong nakaraang taon umakyat na ito sa P1.3 trillion at aabot pa sa P1.5 trillion ang malilikom ngayong 2015. Limang taon lang ang kinailangan para mapantayan, mahigitan at halos ma-doble ang pinakamalaking nakolekta ng ating sinundan,” Mr. Aquino added.