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Villar: The Senate will deliver a “well-crafted, impactful” MIF law.

Senator Mark Villar stated on Wednesday that the continuous round of interpellations at the Senate plenary debating the Maharlika Investment Fund (MIF) bill demonstrates the Senate’s dedication to ensuring the proposal will serve the interests of the Filipino people.

Villar, who wrote and supported Senate Bill No. (SBN) 2020 to establish the MIF further affirmed that he is steadfastly devoted to the MIF Bill’s ideas and goals, which include ensuring that it empowers the populace, fosters an equitable society, and secures a prosperous future for all.

It’s great that we can talk about the issues that our colleague senators have, so “maganda po na ma-discuss natin ang mga concerns ng ating mga kapwa senador.” We have always wanted to examine this law carefully. There is no better way to do that than to answer inquiries from our peers, Villar said in a statement.

“The continuous interpellation process demonstrates the Senate’s dedication to producing a well-written and significant bill. He continued to highlight the significance of carefully assessing the Maharlika Bill by participating in open conversations and working together.

Villar emphasized the need to review the measure carefully and stated that he thought having conversations and responding to issues brought up by other senators was an essential part of the legislative process.

The legislator also allayed concerns raised by some detractors that what occurred to the MIF may potentially happen to the Norway Wealth Fund.

In the first half of 2022, the Norway Wealth Fund encountered an unforeseeable circumstance that resulted in significant paper losses.

However, if you study it over a longer time frame, say over 10 years, the overall return for the government outweighs that period of losses. Villar explained.

He added that the Maharlika has sufficient protections to guarantee that the government will generate a good rate of return.

Senators Ronald Dela Rosa, Grace Poe, Raffy Tulfo, and Loren Legarda have all so far interpleaded with Villar.

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