Senators have promised to further discuss and fully review the proposal to create a sovereign wealth fund via the Maharlika Investment Fund as the bill breezed through the House of Representatives. | JMangaluzINQ
Opposition Senator Risa Hontiveros, meanwhile, cautioned the government against leaping into “a P250-billion mistake.”
Senate Majority leader Joel Villanueva expressed support for a sovereign wealth fund but pointed out that: “Further discussions are needed in the Senate to ensure that the fund will be managed properly with transparency and accountability.” For Senate President Miguel Zubiri, the upper chamber “will study through the hearings and plenary debates all measures with a fine tooth comb” emphasizing that “we respect the committee system.”
“We respect the committee system in the Senate, and we will study through the hearings and plenary debates all measures with a fine tooth comb to make sure every bill or proposal would be good for our people and our country,” he said.
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