MANILA, Philippines — Critics of the Maharlika Investment Fund (MIF) must remain vigilant despite its expected signing into law by President Ferdinand Marcos Jr., Sen. Francis Escudero said on Sunday as he un... CDNDigital
Sunday as he underscored the Supreme Court’s critical role in resolving the measure’s contentious provisions.
“This only means that those who have doubts and concerns should continue to keep watch … Since it got the votes of the majority, we have to respect it because that’s democracy,” he said. Only opposition Sen. Risa Hontiveros stood up against the bill, which Marcos had certified as urgent. Escudero reiterated that the MIF failed to satisfy the constitutional requirements on the creation of new government-owned and -controlled corporations, the main reason why he did not vote for the measure.He was particularly referring to the “test of economic viability” for the envisioned Maharlika Investment Corp., which he had demanded from the members of the President’s economic team.
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Keep watch on Maharlika Investment Fund, Escudero urges criticsMANILA, Philippines — Critics of the Maharlika Investment Fund (MIF) must remain vigilant despite its expected signing into law by President Ferdinand Marcos Jr., Sen. Francis Escudero said on
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Serious errors committed in approving Maharlika bill – EscuderoICYMI: In its rush to pass legislation for the Maharlika Investment Fund, both houses of Congress committed serious procedural and substantial legal errors that may nullify the law from the start, Sen. Francis Escudero said.
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Diokno sees Maharlika Fund fully operational before 2023 endsFinance Secretary Benjamin Diokno, the Marcos administration’s chief economic manager, said the Maharlika Investment Fund (MIF) —Philippines’ very first sovereign wealth fund— is expected to be operational before the end of the year.
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Maharlika Fund setup expected to be speedyThe Maharlika Investment Fund (MIF) could be up and running within this year, with the bill establishing the MIF expected to be signed into law before the President’s Sona in July and the rules of implementation coming out within three months.
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DOF sees MIC operational before yearend | Jasper Y. ArcalasTHE Finance Department expects the Maharlika Investment Corp. (MIC) to be operational before the end of the year as President Marcos Jr. is on track to sign into law the Maharlika Investment Fund (MIF) before his second State of the Nation Address (SONA). Finance Secretary Benjamin E. Diokno said the…
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ABSOLUTE PROHIBITION? Diokno: GSIS, SSS can still ‘subscribe’ to Maharlika’s projects, but not equityWhile the Congress-approved version of the Maharlika bill prohibits government-run pension funds and health insurance from investing in the Maharlika Investment Fund (MIF), Finance Secretary Benjamin Diokno said the Government Service Insurance System (GSIS) and Social Security System (SSS) would still be able to participate in the activities of the sovereign wealth fund.
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