Finance Secretary Benjamin Diokno on Tuesday, May 30, said that it is up to the boards of directors of state pension institutions, such as the Social Security System and Government Service Insurance System , to invest in the proposed Maharlika Investment Fund .The official said he doesn’t want to “preclude” the decision of the boards when asked if it would be okay for the GSIS and SSS to invest in the sovereign wealth fund.
The controversial MIF, which initially sought to pool capital from government pension funds and state-owned banks, is currently being deliberated in Senate. “It's a decision of the board, kaya nga may mga board, 'di ba ? While they are presidential appointees, they act in the best interest of the company," Diokno said.
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