By Hannah Torregoza  Senator Francis “Kiko” Pangilinan on Sunday thumbed down the Duterte administration’s threat to put to jail investors who refuse to accept deals crafted by the government, saying it is a crime under the country’s laws. Senator Francis "Kiko" Pangilinan (Photo from Kiko Pangilinan website / kikopangilinan.com / File Photo / MANILA BULLETIN) “Forcing investors to accept a government contract is a crime,” said Pangilinan, president of the former ruling Liberal Party, in a statement. “Threatening investors with imprisonment should they refuse to accept a government-imposed contract is criminal behavior under our Revised Penal Code,” he further said. Pangilinan made the assertion amid the pressure Malacañang is exerting against Maynilad and Manila Water—two of the water companies President Duterte has threatened to takeover due to “onerous” provisions in their government contracts. READ MORE: Duterte warns water concessionaires anew Last week, the Chief Executive has given the water concessionaires the option of accepting new contracts drafted by the government. Presidential spokesperson Salvador Panelo, however, said this does not guarantee that the two water firms would not be prosecuted for crafting onerous contracts in connivance with individuals who are directly or indirectly involved in the agreements. READ MORE: Panelo: Gov’t working to finish new water contracts in six months But Pangilinan, an opposition lawmaker, said the President’s pronouncement will affect the country’s investment climate. “Coming as it does from the highest office of the land sends the terrible signal to all investors whether foreign or local that they too can be imprisoned without bail should they disagree with the powers that be,” Pangilinan said. “We urge the country's economic team led by (Finance) Secretary (Carlos) Dominguez (III) to manage and correct the harm inflicted on the country's investment climate brought about by such reckless and irresponsible public pronouncements,” he said. The senator warned of a bleak investment climate, noting that at least 2.3 million Filipinos remain jobless and another 5.9 million are underemployed, citing Socioeconomic Planning Secretary Ernesto Pernia’s year-end report. “We should be part of the solution to address joblessness in the country, not part of the problem,” he reiterated.