Romualdez assures business sector: Maharlika Fund has safeguards vs abuse

📆 2/24/2023 10:45 AM
📰 inquirerdotnet

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The safeguards placed on the proposal to create the country’s first sovereign wealth fund are solid enough to guard against misappropriation, House Speaker Ferdinand Martin Romualdez told the business sector. READ:

Romualdez, in particular, mentioned these six proactive safety checks under HB No. 6608:

MIC operations will be monitored by the Maharlika Investment Fund Joint Congressional Oversight Committee “If these pro-active provisions are not enough, House Bill No. 6608 also provides heavy penal provisions and criminal sanctions to hold accountable and punish any director, trustee, or corporate officer who is proven to have abused the management of the Maharlika Investment Fund,” Romualdez noted.

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Write Comment

Sure na vah

It is our prayer for our leaders not to abuse us because they do as a matter of fact.

The risk is actually on the business plan. They're planning to invest on western market that is not related to the growth of our economy.

Etchuserang frog

utot nyo

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Romualdez assures business sector: Maharlika Fund has safeguards vs abuseThe safeguards placed on the proposal to create the country’s first sovereign wealth fund are enough to protect it from potential abuse, House Speaker Ferdinand Martin Romualdez told the business sector. | GabrielLaluINQ GabrielLaluINQ Yeah right.
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