MANILA, Philippines — Sen. Sherwin Gatchalian on Thursday said that should President Ferdinand “Bongbong” Marcos Jr. not approve of the Senate version of the Maharlika Investment Fund , he could not veto portions of it, and would have to return it to Congress.
Gatchalian also said that the final version of the bill “categorically” prohibits pension funds like the Social Security System , Government Service Insurance System from investing in the fund, whether in the present or in the future.“This is not a revenue measure. The President can only veto revenue measures and appropriations measures in the General Appropriations Act, they can do line vetoes.
Prior to the House of Representatives adopting the Senate version of the MIF bill on Wednesday, President Marcos said that the