The President's sister is not too keen on the bill being pushed by her cousin and nephew in Congress.
Senator Marcos said the country should be deliberate in studying the proposal even as she recognized the wisdom behind pooling the funds of government financial institutions for national development projects.Pero gamitin sa tamang pamamaraan, katulad ng patubig. ‘Yung mga dam natin na bulok, kaya wala tayong agriculture, nagtataasan ang presyo ng imported food.
“On the issue of the Maharlika Investment Act, I will ask a select group of senators – such as Sen. Angara, Gatchalian, Poe, Mark Villar and Alan Cayetano, Chairpersons of the Committees of Finance, Ways and Means, Economic Affairs, Banks and Financial Institutions as well as Government Owned and Controlled Corporations – to study the proposal carefully and give the Senate feedback on the essence of the Fund,” he said.
Senator Joel Villanueva and Francis “Chiz” Escudero both agreed with the intention behind the proposal as it could fund much needed government projects like in other countries. However, they emphasized that the source of the funds would have to be clarified further.Kailangan lang po nating masiguro na may sapat na salapi ang mga government financial institutions para pondohan ito.
Senate Minority Leader Aquilino “Koko” Pimentel also posed several questions which the bill will have to answer as it makes its way through the House. “Where will the seed money of the sovereign wealth fund come from? Who will manage? What is their incentive in managing this fund well, etc. We have to ask the proponents,” he said. “It must be surplus funds, and it must be ‘ours,’ meaning belonging to the Filipino people as a collective.”
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