Albay 2nd District Rep. Joey Salceda last week said the bill was “rewritten” and “re-engineered” by him and three other lawmakers to make it more private sector-led with government having less than 50 percent stake. | onenewsph
Protesters stage a rally in front of the House of Representatives in Quezon City on Wednesday, Dec. 7, 2022, to call on lawmakers to junk the proposed Maharlika Wealth Fund. Photo by Michael Varcas, The Philippine STAR
“That’s normal. Our economic landscape changes, not only here but globally. We are emerging from the pandemic and some appear to be experiencing recession and our economies are linked,” Tolentino toldAlbay 2nd District Rep.
The House amendments are likely going to be taken up by Villar’s committee, and in the bicameral conference committee where the chambers will try to reconcile any conflicting provisions of their respective versions of the MIF. “The bill must be recalled so that the House can further deliberate on the belated innovations,” Lagman proposed, following revelations made by his fellow Albay congressman Salceda that he was among several lawmakers who “re-engineered” the bill.
He described MIF as an “ill-prepared economic measure which was fast-tracked at the committee and plenary levels of the House.” Lagman found it ironic that after House leaders, including Salceda himself, have defended the inclusion of the BSP and DBP as fund sources, the bill has “now excluded” the government financing institutions.
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