The proposed Maharlika Investment Fund (MIF) approved by the House of Representatives underwent revision during the Christmas break, Albay Representative Joey Salceda said Friday.
According to Salceda, who chairs the chamber's ways and means committee, they decided to limit the number of initial fund sources to dividends from government-owned and -controlled corporations only.
"Basically it will now just be a securitization of the dividend excluding the BSP , no more asset infusion from DBP ..." he added. Going on IPO means a private company will be selling its shares of stocks to the public for the first time, signaling transition from private to public ownership.
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