The latest version of the proposed Maharlika Investment Fund (MIF) has a better chance of hurdling the Senate after 'key changes' were introduced to the bill, according to Sen. Chiz Escudero.
Escudero, who already signed the committee report, said Saturday that the new version was"totally unrecognizable" from its original form.
"As I stated from the beginning when we started to review the original bill filed by Senator Villar, we will provide a better version. I said then that the Senate counterpart will not be in the same shape, size, color or form because, as it was passed in the House , it clearly will not pass the Senate," he added.of the controversial MIF in the Senate provides for an initial capital of ₱125 billion and removes tax exemptions and other privileges initially sought for it.
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