FILE PHOTO: Senator Mark Villar at an organizational meeting of the Senate committee on national defense and security, peace, unification, and reconciliation on August 10, 2022. – Villar has filed Senate Bill No. 1670, calling for the setting up of a Maharlika Investment Fund.
MANILA, Philippines — A measure seeking to set up a Maharlika Investment Fund has been filed in the Senate. on Monday filed Senate Bill No. 1670 to create the controversial sovereign wealth fund. He said that “this Maharlika Investment Fund bill should be passed for the achievement of the country’s economic goals.”In the bill, he explained that: “It is the duty of the government to ensure that our country will attain economic transformation, growth, and sustainability.
Under his proposal, among the sources of seed money for the Maharlika Investment Fund would be the Land Bank of the Philippines, the Development Bank of the Philippines, and the declared dividends of the Bangko Sentral ng Pilipinas.
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