Now that their pet MIF is a law, a leader of the House of Representatives on Wednesday said economic managers should prove their critics wrong, and deliver the earnings they confidently promised during the congressional debates on the measure.
Now that their pet Maharlika Investment Fund is a law, a leader of the House of Representatives on Wednesday said economic managers should prove their critics wrong, and deliver the earnings they confidently promised during the congressional debates on the measure.
As in the case of new things, which were initially doubted, Recto said “brickbats can incentivize performance and a powerful motivation to prove the naysayers wrong.” What Congress added “were safety features against abuse and misuse of funds, and higher qualifications for those on the driver’s seat.”
Marcos bared that he rejected proposals for him or the Secretary of Finance to chair the MIF, saying that it must be run by competent and independent financial managers to insulate it from political interference. Under RA 11954 or the Act Establishing the MIF, which the President signed into law Tuesday, the Secretary of Finance is merely ex officio chairperson and will not run the Fund. It will be governed by the nine-member Maharlika Investment Corporation chaired by an Independent Director.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cause-oriented groups stage Mendiola indignation protest vs MIFCause-oriented groups staged an indignation rally in Mendiola, Manila on Tuesday, July 18, over the signing into law of the Maharlika Investment Fund (MIF) by President Marcos. READ:
Read more »
Global woes won’t dent MIF investment draw, solon says | Jovee Marie de la CruzTIMING is right for the Philippines to set up its Maharlika Investment Fund (MIF) amid fears that headwinds could thrust much of the world into near-recession levels, a senior lawmaker insisted on Monday, the eve of the expected signing of the controversial MIF into law. At a time when the…
Read more »
Solons laud signing of MIF into law: Greater fiscal space for PHVarious lawmakers from the House of Representatives lauded President Ferdinand Marcos Jr.’s enactment of the Maharlika Investment Fund bill, as it would provide the Philippines a great fiscal space to implement projects. | GabrielLaluINQ
Read more »
MIF a 'very good bill', says ArroyoFor House Deputy Speaker and Pampanga 2nd district Rep. Gloria Macapaga-Arroyo, Republic Act (RA) No.11954 or the newly-signed Maharlika Investment Fund (MIF) is a 'very good bill.' | ManilaBulletin READ:
Read more »
Marcos signs controversial Maharlika Investment Fund (MIF) Act | Samuel P. MedenillaPresident Ferdinand R. Marcos, Jr. on Tuesday signed the controversial Maharlika Investment Fund (MIF) Act to help draw more investors to the country. The signing ceremony was held at the Kalayaan Hall in Malacañang last Tuesday despite criticisms from some groups that it will expose government funds to possible misappropriation. In…
Read more »
PBBM signs MIF bill into lawHe signed the law days before his second State of the Nation Address, and about two weeks after Congress had sent the bill, which he certified as urgent, to the Palace for his signature. READ MORE:
Read more »