Deputy Speaker Ralph Recto told the national government to carefully curate the non-performing assets it plans to sell to fund the Maharlika Investment Fund in order to avoid a “fire sale” of state-owned lands, businesses and franchises. | zacariansINQ
“We should be careful that what remains of state crown jewels are not included in a baratilyo sale simply because we are raising funds for a project,” he added.
“Kung lahat ng mga Taipans nagkakandarapa magpatayo ng condo kasi may kita doon, bakit hindi ito ang pondohan ng pamahalaan – ang pagpapatayo ng abot-kayang tirahan?” said Recto.The deputy speaker noted that shelter agencies only account for less than a tenth of a percent of the national budget, which should be enough reason for the government to use “off-budget sources” to wipe out the estimated 6.658 million housing backlog.and its attached agencies account for P4.7 billion of the P5.
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.
Poe, Angara back proposal to sell gov’t assets for Maharlika fundMANILA, Philippines — Senators Grace Poe and Sonny Angara expressed their support on Monday for the proposal to sell nonperforming government assets to fund the Maharlika Investment Fund
Read more »
Mark Villar sees swifter talks on Maharlika fund after meeting with economic managers“Nagkaron na po kami ng briefing tungkol sa Maharlika bill at andun po lahat ng economic managers at na-clarify yung mga questions ng ating mga colleagues sa Senado,” Villar said. Asked if the briefing will pave the way for smoother deliberations of the measure, he said, “Sa tingin ko, kasi maganda yung mga sagot ng ating mga managers and of course we were able to tackle a lot of issues.”
Read more »
Think tank: Maharlika fund needs 'realistic funding sources,' must avoid political risksThe Milken Institute finds that the country has 'many good reasons for launching a sovereign wealth fund,' but cautions that the Maharlika fund needs realistic funding sources and good governance.
Read more »
No to 'baratilyo sale': Recto shares privatization tips to gov'tA senator-turned-deputy Speaker in the House of Representatives has advised the government on how to go about its reported plan to sell off its NPAs, or non-performing assets.
Read more »
US Speaker McCarthy to discuss debt limit, spending with BidenUS House of Representatives Speaker Kevin McCarthy on Sunday said he will meet with President Joe Biden on Wednesday to discuss raising the federal debt ceiling while controlling government spending, adding that Republicans will not allow a US default.
Read more »
Magnolia deputy Johnny Abarrientos faces fine after flipping off Converge import Jamaal FranklinMagnolia assistant coach Johnny Abarrientos faces a fine after he flipped off Converge import Jamaal Franklin at the end of the Hotshots’ loss. PBA
Read more »