GOCCs to finance wealth fund rollout

THE proposed Maharlika Wealth Fund has been 're-engineered' to limit the funding needed to start it up to dividends from government-owned and -controlled corporations , Albay Rep. Joey Salceda revealed the revision during a television interview on Friday.Salceda said it was the new version that President Ferdinand 'Bongbong' Marcos Jr. presented at the World Economic Forum in Davos, Switzerland, earlier this week.

'For so many years, we have had no dams, for 32 years. The last one was in San Roque. We need water for our energy, irrigation,' Salceda said.The projects 'will be more private-led, but definitely it would have basically government guidance,' he said.According to Salceda, the new version is patterned after Indonesia's sovereign wealth fund.'It is just a matter of details. He may pick for example to follow the Indonesian model.

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Mining sector earnings also eyed to fund MaharlikaThe Philippines—one of the most mineral-rich countries in the world—plans to unlock potential gains from the reopening of the mining industry to help bankroll President Marcos’ plan to set up a sovereign wealth fund. | philbizwatcher /PDI Philbizwatcher So sisirain ang Pilipinas for China's benefit while plunder runs rampant. Got it.
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