Once approved by the Senate and enacted into law, the Maharlika Investment Fund or MIF will utilize surplus money and investible funds of government to sustain the country’s economic growth.
Instead of taxes, lawmakers decided to tap surplus funds for long-term economic development programs and projects.This entity will have its own charter and will be supervised by the Securities and Exchange Commission and the Securities Regulation Code. The MIF will have an initial capital of P110 billion from the LandBank ; DBP and the balance from the 100 percent dividends of the Bangko Sentral ng Pilipinas.
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