Finance Secretary Benjamin Diokno, the Marcos administration’s chief economic manager, said the Maharlika Investment Fund (MIF) —Philippines’ very first sovereign wealth fund— is expected to be operational before the end of the year.
“We believe that the version crafted by our legislators will create a Fund that can accelerate investments in high-impact infrastructure and development projects,” Finance Secretary Benjamin Diokno said. DOF/ File photo
This as the measure is set to be enrolled and transmitted for the approval and signature of the President. “That’s the direction and I see this to be fully operational before the end of the year,” the Finance chief said.P50 billion from the Land Bank of the Philippines The contribution from the national government would come from the following sources:National government's share of the income of PAGCOROther sources such as royalties and/or special assessments
“‘Yes ‘yun ‘yung initial kasi ‘yun pa lang 'yung available and then papasok si BSP, then we'll also get sa PAGCOR,” de Leon said. Diokno said that the MIF bill provides the necessary safeguards to maintain transparency, accountability, fund integrity, and robust risk management.
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