Speaker Ferdinand Martin G. Romualdez, with fellow lawmakers, applauds President Ferdinand R. Marcos, Jr. after the Chief Executive signed into law the bill establishing the Maharlika Investment Fund in simple rites held at Malacanang Palace Tuesday morning.MANILA, Philippines — President Ferdinand Marcos Jr. temporarily halted the implementation of the controversial Maharlika Investment Fund due to the need for further study of its mplementing Rules and Regulations .
The suspension order came a day after Marcos reduced LBPs government deposits to the government from 50% to 0% for 2022 earnings weeks after the state-run bank gave P50 billion as a part of the capital of the fund. The fund was provided to ensure LBP's compliance with the capital adequacy requirements set by the Bangko Sentral ng Pilipinas.
In a statement, Rep. France Castro said that Marcos’ suspension of the law showed that it was “rushed and flawed on so many levels.” Since its proposal, the law has recieved criticisms from economists and several lawmakers due to its lack of safeguards and its alleged prone to misuse. Avoid hospital admission and get outpatient antibiotic therapy with OPAT.PHCapture moments as they happen: Infinix ZERO 30 5G is the vlogging phone for your content needsTo settle “once and for all” the issue of irregularities in the May 2022 elections, the Commission on Elections...