IT will be a “workable” document for all stakeholders.

Thus this Malacañang allay the fears of the Joint Foreign Chambers about the executive order being prepared to set comprehensive policy guidelines for the mining industry.

In a news briefing, Presidential Spokesman Edwin Lacierda said the apprehensions voiced by businessmen on the draft EO were “unfounded” since work on it was still ongoing.

“The draft will also take into account consultations with the stakeholders. So I can assure the Joint Foreign Chambers that their concerns would be addressed and that the draft they saw is no longer the draft that [Malacañang is] working on…. It has been improved. It has undergone several changes,” Lacierda said.

He also said “the finalized EO will take into consideration all the concerns of the stakeholders—the mining companies, the environment as well as the government.”

“It’s something that would be workable,” Lacierda said when asked if the final EO would please all concerned. “I have not seen the final draft so that’s something that I can very well assure you—that the concerns will be addressed.”

He said that the draft EO “has been passed on to several Cabinet departments” and once finalized, Executive Secretary Paquito Ochoa Jr. will call a meeting on it.

Lacierda sidestepped a question on whether the draft EO would address businessmen’s apprehensions about stricter rules and reduced tax breaks, as provided in the first draft of the EO that had been leaked to the media. He said he was not part of the group working on the document.

But he added that the EO “has undergone several changes.” In a letter to President Aquino, they said the draft EO, as is, has the potential of killing the mining industry as it would put at a disadvantage existing companies that have made significant investments in the sector.

The JFC pointed to the provisions of the draft EO that proposes a review of all existing contracts, and the imposition of an increased government tax or royalty share, among others.

The President said that he expected to sign the EO this month.