Citing the time and political capital consumed to enact the Maharlika Investment Fund bill into law, Senator Risa Hontiveros said the first year of Ferdinand Marcos Jr.’s presidency was wasted. READ:
“With the time lost and political capital used up in promulgating the Maharlika Fund, especially since [Finance Secretary] Diokno and the President [Marcos] still insist that Government Service Insurance System and Social Security System funds should still collaborate with Maharlika — Diokno failed in his mission of using the mandate of the Administration to pursue tax and fiscal reforms and to keep the National Treasury well-funded.
“The Philippines does not need the Maharlika law. The national budget will be the first victim of the Maharlika Fund,” she added in a mix of English and Filipino.
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