Oliver 30 0 0 4 min to read

Regarding the planned Maharlika Fund, PBBM said, “Let Congress perfect it first.”

Cebuano Cebuano English English Filipino Filipino


On Sunday, President Ferdinand R. Marcos Jr. urged opponents to give lawmakers a chance to craft a “perfect” version of the contested bill that would establish the PHP275 billion Maharlika Wealth Fund (MWF). He added that lawmakers are allowed to make changes to controversial legislation as part of the legislative process.

After the House Committee on Appropriations removed the Social Security System (SSS) and the Government Service Insurance System (GSIS) as funding sources for the MWF in response to public outcry, Marcos made this statement.

“We’re simply going through the motions when it comes to reviewing the measure. We, not so much. A legislative body, that is. So let them carry out their duties. Tama’ yan That’s right, par gawin nilang perfect. On a flight to Brussels, Belgium to attend the Association of Southeast Asian Nations-European Union (ASEAN-EU) Summit, Marcos addressed the media. “(So they can make it flawless),” he said.

He assuaged worries about the timing and potential improper handling of the proposed MWF by stating that it would be premature to debate any sections that might ultimately be eliminated while the law was still being revised.

“Let’s avoid discussion until we have a copy of the final draft to avoid arguing about clauses that are no longer in the document. He continued, “So let’s wait and see what the legislature will do. Antayin natin kung ano’ng gagawin ng legislative.

Marcos supported the establishment of a law to institutionalize a sovereign wealth fund as a suitable investment tool to promote national economic growth.

“Without a doubt, I wouldn’t have brought it up… It is obvious that we require additional funding. This is an additional method to obtain that,” he stated.

the MWF is anticipated to raise investments and the funding of infrastructure projects and rural development, notably in agriculture, according to the nation’s economic managers, led by Finance Secretary Benjamin Diokno.

They said in a joint statement that the MWF is expected to improve the country’s fiscal space and lessen fiscal pressures in the short and medium terms as the fund “pursues public infrastructure projects, as well as reduce uncertainties in cases when fund resources are channeled to high-yielding financial undertakings.”

They demanded that the MWF bill be passed right away since it will spur development and aid in the nation’s “economic transformation towards inclusion and sustainability.”

“Do not impede economic development. Please do not deny our people this chance at wealth “they claimed.

The economic managers additionally guaranteed the effective use and management of this investible public money under the projected MWF’s professional management.


Cebuano Cebuano English English Filipino Filipino


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