New version of Maharlika Investment Fund bill has better chance of Senate nod, says solon

Escudero says Senate, House versions of Maharlika Investment Fund bill won’t prosper

“As I stated from the beginning when we started to review the original bill filed by Senator Villar, we will provide a better version. I said then that the Senate counterpart will not be in the same shape, size, color or form because, as it was passed in the House [of Representatives], it clearly will not pass the Senate,” Escudero said.

Escudero pointed out that one of the major changes to the bill is allowing the Maharlika Investment Corporation to issue bonds. SB 2020 will have a P500-billion authorized capital stocks comprised of the following:P125 billion worth of preferred stocks subscribed by the national government and reputable private financial institutions and corporations “subject to certain conditions.”

Of the initial P125 billion worth of MIC common stocks to be subscribed by the national government, P75 billion shall be fully paid by two banks – the Land Bank of the Philippines and by the Development Bank of the Philippines . “I want to make sure that the bill from Senate will have the necessary safeguards and more importantly, puts the interest of the Filipino people first,” Escudero said.RELATED STORIES:

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JMangaluzINQ '..P75 billion shall be fully paid by two banks – the Land Bank of the Philippines (P50 billion) and by the Development Bank of the Philippines (P25 billion).' Wait. Aren't those two banks going to be merged? 🤔

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JMangaluzINQ 🤡🤡🤡

JMangaluzINQ Wala talagang malasakit sa bayan ang mga politikong ito. Magkano kaya?

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JMangaluzINQ Nalagyan ba ang Senate?

JMangaluzINQ The Maharlika Thieves Fund

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JMangaluzINQ Leche

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UK launches investment partnerships in PHThe United Kingdom (UK) government launched its British Investment Partnerships (BIP) to finance sustainable development in the Philippines, the Department of Finance (DOF) said. ManilaBulletin
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