MANILA, Philippines – Four Senate committees – Banks, Financial Institutions and Currencies; Government Corporations and Public Enterprises; Ways and Means; Finance – are set to hold a joint public hearing on the Maharlika fund proposal on Wednesday, February 1.
Senate President Juan Miguel Zubiri said last month that the Senate “cannot snub” President Ferdinand Marcos Jr., who has personally backed the establishment of the Maharlika Investment Fund.
Introduced only in late November, the Maharlika fund proposal steamrolled past the House of Representatives on December 15, 2022, after Marcos certified it as urgent. Zubiri estimated that the Senate could pass the measure after the Holy Week break.
Days before the scheduled Senate hearing, US-based think tank Milken Institute advised the government to find “realistic funding sources,” and to avoid political risks and conflicts of interest as it hammers out the Maharlika Investment Fund. – Rappler.com