Senate approves Maharlika Investment Fund Bill

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Senate approves Maharlika Investment Fund Bill
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The controversial Maharlika Investment Fund bill inches closer to becoming a law as majority of senators voted for its approval. Read more:

Deputy Minority Leader Sen. Risa Hontiveros voted against the bill while Sen. Nancy Binay abstained. Minority Leader Sen. Koko Pimentel and Senators Imee Marcos and Chiz Escudero were not present in the voting.

Sen. Grace Poe proposed an amendment to require the MIC to submit a"quarterly confidential submission" of all investments, whether planned or under negotiation, to the oversight committee. Sen. Robin Padilla's proposal to implement the measure right after it is published in the official gazette and any national newspaper was likewise accepted. There will also be a Filipino version of the measure as proposed by the senator.

 

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