In removing himself and future presidents from membership of the board of the controversial Maharlika Investment Fund (MIF), President Ferdinand “Bongbong” Marcos Jr. wealth fund. | ManilaBulletin READ:
President Ferdinand Marcos Jr. delivers a speech after the ceremonial signing of the Maharlika Investment Fund Act in Malacañang on Tuesday, July 18, 2023.
“We have to look at any potential investment, we have to look at any potential operation of the fund in a cold, calculating manner. That is the only way that it will succeed,” Marcos added. By placing “competent” people in the fund corporation, Marcos stressed “that we can rest easy that they will handle the fund properly.”
Originally, Congress’ version of the bill would source P125 billion from the Government Service Insurance System and P50 billion from the Social Security System .
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