The Maharlika Investment Fund bill was heavily scrutinized in the Senate on Monday for still allowing the SSS and the GSIS to invest in the controversial fund. | BPinlacINQ
He said pensioners were “neither requested nor required” to invest in the proposed MIF.
“GSIS and SSS funds are owned by the members. They are not government funds and should not be touched by the government for our own disposal. So this should not be used to invest in the Maharlika. There shouldn’t be an option at all,” she said partly in Filipino. Sen. Mark Villar, the chairperson of the Committee on Trade, Commerce and Entrepreneurship, faces his colleagues during the plenary session Monday, May 29, 2023, as he defends Senate Bill No. 2020 which seeks to establish the Maharlika Investment Fund . But even the House-approved MIF bill keeps the investment window open for GFIs and GOCCs.Citing a “reliable source,” Hontiveros said it was GSIS President Jose Arnulfo Veloso himself who had proposed the MIF to President Ferdinand Marcos Jr.
The senator further noted that there was a video of Veloso saying that the GSIS was already reviewing, with the end goal of changing, its investment strategy. Villar said he believes that “discouraging or sending a message that it is not profitable to invest in our country’s infrastructure” would not be the right signal to send to investors.
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