Senators clashed over the committee referral of the Maharlika Investment Fund bills filed in the Senate and House of Representatives. | DFernandezINQ
“Undoubtedly, the two bills create a GOCC , but it does not create a bank, it is not about currency, but is it about the third subject matter of financial institution under the committee that we referred it to? Hindi po ,” he added.
Senate President Juan Miguel Zubiri clarified that a government financial institution is being created. Thus, they suit the committee on banks, financial institutions, and currencies. “Government corporations are, more or less, if we’re going to set up a new GOCC, government-owned and -controlled corporation, and create a charter,” he continued.“If you look at the rules, the jurisdiction of the committee on banks, financial institutions and currencies, it says all matters relating to banks, financial institutions, government and private currencies, capital markets, mutual funds, securitization, coinage, and circulation of money,” Villanueva said.
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