ALBAY Rep. Edcel Lagman on Saturday said that the revision of the proposed Maharlika Wealth Fund (MWF) only shows that it is an ill-prepared economic measure which was fast-tracked...
ALBAY Rep. Edcel Lagman on Saturday said that the revision of the proposed Maharlika Wealth Fund only shows that it is an ill-prepared economic measure which was fast-tracked at the committee and plenary levels of the House of Representatives.'It is a grim lesson that important proposals should not be approved in its embryonic stage.
'The so-called reengineering of the MWF was not deliberated in the House of Representatives,' he added.According to Lagman, the dividends from GOCCs have been used for budgetary support.'These dividends must not be parked in long-term contingent investments as they are urgently needed for immediate utilization to address the requirements of basic services like education, health, employment, fund security and infrastructure,' Lagman stressed.
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