The Senate minority will try to get senators to turn against the Maharlika Investment Fund bill, which is expected to be put to the vote on June 2 when Congress ends its first regular session. | melvingasconINQ /PDI
“The majority cannot accuse [the minority] of being obstructionists because we were cooperative in many of the bills that they previously approved,” Pimentel said in a radio interview.
He said the MIF does not pose any urgent concern because the country will only feel its purported effects five to 10 years after its establishment. “We all know that private businesses want to gain profits, so the MIF is nothing but a profit-earning scheme,” Pimentel added.He also disclosed a “sneaky” provision in the Senate’s version of MIF, stating that while Bangko Sentral ng Pilipinas, Land Bank of the Philippines, and Development Bank of the Philippines are no longer required to put in funds for the MIF, they will be allowed to do so if approved by their boards.
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