During Thursday’s session, the House of Representatives approved the bill on second reading via viva voce.With the approval, the House only needs three more session days to pass the bill on third reading. However, since the Congress is set to go on a recess for the holidays, the earliest that the MIF bill would be approved is by January 25.
Before the bill was passed on second reading, there have been several criticisms hurled at the proposal, as many lawmakers feel that is not the right time for the country to have a sovereign wealth fund .
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Romualdez wants Marcos to certify Maharlika Investment Fund bill as urgentBRUSSELS, Belgium — House Speaker Martin Romualdez wants President Ferdinand "Bongbong" Marcos Jr. to certify as urgent the passage of the controversial Maharlika Investment Fund Inflation - not urgent. MIF - urgent despite the nation being buried in debt. 🙄🙄🙄🙄
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Malampaya earnings, loans eyed as sources of Maharlika fundTieng cited Section 11 of the MIF bill which states that other sources of the MIF will include: “royalties and/or special assessments on natural resources based on the fiscal regime to be implemented by the national government, proceeds from privatization of government assets, and public borrowings.”
Source: gmanews - 🏆 11. / 68 Read more »