Senator Francis Tolentino thinks he knows why the House of Representatives suddenly balked at plans to tap the Government Service Insurance System and Social Security System as contributors to the proposed P275-billion Maharlika Wealth Fund.
Senator Francis Tolentino thinks he knows why the House of Representatives suddenly balked at plans to tap the Government Service Insurance System and Social Security System as contributors to the proposed P275-billion Maharlika Wealth Fund .Tolentino was asked about this development on the MWF in a chance interview Thursday, Dec. 8.
“We leave that to the lower house kasi sila naman yung nag-initiate yung move na yun, sovereign fund ,” he said.“So siguro that was meant to diffuse certain issues concerning the said pension funds. And it took into consideration the sentiments of some economic managers, lalung lalo na yung Bangko Sentral ng Pilipinas ,” he further said.
On Wednesday night, Marikina City 2nd district Rep. Stella Quimbo and Ilocos Norte 1st district Rep. Sandro Marcos–two of the authors of House Bill No.6398–announced separately that the measure would be revised to exclude the GSIS and SSS as contributors. The House measure sets up the MWF, which is essentially a sovereign wealth fund. It will supposedly generate funds for big-ticket projects.
But the use of money from the GSIS and SSS–both generated by member premiums–have become a major sticking point.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Minority solon likens proposed MWF to 'chop suey'House Deputy Minority Leader and Bagong Henerasyon (BH) Party-List Rep. Bernadette Herrera has used the Chinese mixed vegetable dish “chop suey” to describe the controversial Maharlika Wealth Fund (MWF) being pushed by majority solons.
Baca lebih lajut »
Majority senators react to House's decision to amend MWF billSenate Majority Leader Joel Villanueva and fellow majority member Senator JV Ejercito have welcomed the decision of their House colleagues to drop the GSIS and SSS as contributors to the controversial Maharlika Wealth Fund.
Baca lebih lajut »
Amid members’ uproar, GSIS, SSS dropped from ‘Maharlika’ - BusinessMirrorLEADERS of the House of Representatives and economic managers have agreed to remove the Government Service Insurance System (GSIS) and Social Security System (SSS) as fund contributors to the proposed Maharlika Wealth Fund (MWF) and instead utilize profits of the Bangko Sentral ng Pilipinas (BSP). Marikina Rep. Stella Quimbo, one of the principal authors, made
Baca lebih lajut »
GSIS, SSS dropped as mandatory sources of capital for Maharlika FundAuthors of the proposed Maharlika Wealth Fund (MWF) have dropped state pension fund repositories Government Service Insurance System (GSIS) and Social Security System (SSS) as mandatory contributors to the proposed sovereign wealth fund, House appropriations panel senior vice chairperson Stella Quimbo of Marikina City said Wednesday.
Baca lebih lajut »
PCCI exec on removal of GSIS, SSS as mandatory capital source for Maharlika Fund: A good developmentThe Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business group, welcomed the removal of state pension funds Government Service Insurance System (GSIS) and Social Security System (SSS) as mandatory contributors to the proposed Maharlika Wealth Fund (MWF).
Baca lebih lajut »
QC gov't launches community-led monitoring system for HIV patientsThe local government of Quezon City formally launched a community-led monitoring (CLM) system for persons living with human immunodeficiency virus (PLHIVs) at the Quezon City Hall on Wednesday, Dec. 7.
Baca lebih lajut »