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Independent minority solon, Albay 1st district Rep. Edcel Lagman asked this question Saturday, Dec. 10 after it was learned that the composition of the board of directors of the proposed Maharlika Wealth Fund Corporation has been overhauled.
“From the President to his alter ego, the finance secretary, to chair the Maharlika investment corporation – what is the difference?” Lagman said in a statement. The MWFC will oversee the use of the MWF, which is essentially a sovereign wealth fund akin to those from the Philippines’ Association of Southeast Asian Nation neighbors.
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House to remove PH president as chairman of the board of proposed Maharlika Wealth FundProponents of the bill seeking to create the Maharlika Wealth Fund will remove the president as chairman of the board of directors that will manage the sovereign wealth fund, House banks and financial intermediaries committee chairperson Irwin Tieng said Friday.
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Proud moment: Cong Lagman witnesses son's oath-taking as Albay govAlbay 1st district Rep. Edcel Lagman witnessed his son, Albay Vice Governor Grex Lagman, get sworn into office as provincial governor on Wednesday afternoon, Dec. 7.
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Koko sees 'more difficult time' for Maharlika fund bill in SenateSenate Minority Leader Aquilino "Koko" Pimentel III on Thursday said the proposed Maharlika Wealth Fund (MWF) being pushed by several ranking House leaders will have a difficult time in the Senate.
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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
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BTr chief seeks close review, but cites safeguards of Maharlika Wealth Fund - BusinessMirrorNATIONAL Treasurer Rosalia V. De Leon has joined the calls to scrutinize the proposed Maharlika Wealth Fund (MWF) while pointing out that the current version of the fiscal measure already has numerous safety measures to ensure prudent use of national government’s coffers. “We support the calls to study the bill to ensure that risk management
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Quimbo: Initial Maharlika funding around P150 billion sans GSIS, SSS contributionThe initial funding for the proposed Maharlika Wealth Fund (MWF) bill, which seeks to grow excess funds of state-run financial institutions via investments, could reach around P150 billion, House appropriations panel senior vice chairperson Stella Quimbo said Thursday.
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