Senators vow to take steps to scrutinize the Maharlika Investment Fund bill, a measure to create a sovereign wealth fund. READ:
The measure will create the SWF to maximize the profitability of investible government assets for the benefit of the Filipinos.
Funding sources will primarily come from government financial institutions such as the Government Service Insurance System and the Social Security System . Senator Risa Hontiveros, in a separate statement, said that the bill gave her the “heebie-jeebies” as it is part of the legacy of Ferdinand Marcos Sr.’s Martial Law.
“Yung mythmaking na talagang sinusubukang pigain, to really milk it, nire-rehabilitate yung ala-alang iyon, to the detriment of accountability for human rights violations and plunder of the past,” said Hontiveros.Hontiveros said they would talk about the source of the funds, as it involves the money from SSS, GSIS, and Pag-ibig.
The House of Representatives has rushed to approve the bill, which Speaker Martin Romualdez and other lawmakers filed. It was “approved in principle.”
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.
House panel OKs Maharlika Investment Fund billA House committee on Thursday approved a recently filed bill that seeks to establish billions of pesos worth of sovereign wealth fund dubbed as Maharlika Investment Fund (MIF).
Read more »
Senators to study 'Maharlika' fund — ZubiriSENATE President Juan Miguel 'Migz' Zubiri on Friday said that a bill filed at the House of Representative seeking to create a Philippine sovereign wealth fund or the 'Maharlika...
Read more »
What is 'Maharlika Investment Fund' bill?House Bill No. 6398, which seeks to establish the 'Maharlika Wealth Fund,' was approved by the House Committee on Banks and Financial Intermediaries on
Read more »
Imee Marcos, senators question P275-B Maharlika Wealth Fund proposalThe President's sister is not too keen on the bill being pushed by her cousin and nephew in Congress.
Read more »
Imee Marcos fears corruption in use of proposed Maharlika Fund'Nakita natin ang kapitbahay natin-- Malaysia. Talagang disaster ang nangyari sa kanilang 1MDB na nakurakot na yung pera, ibinagsak pa ang buong pamahalaan at yung partido na nag-umpisa sa Republika ng Malaysia,' Marcos said in a chance interview.
Read more »
'Maharlika' fund won't end up like Malaysia's 1MDB; Salceda explains whyThe proposed P275-billion Maharlika Wealth Fund (MWF) has enough safeguards in it to prevent its embezzlement a la the 2016 1Malaysia Development Berhad scandal or 1MDB scandal in Malaysia.
Read more »