Metro Manila (CNN Philippines, January 21) — President Ferdinand Marcos Jr. “has no time to waste,” House Speaker Martin Romualdez said, in defense of the criticized “premature” launch of the Maharlika Investment Fund (MIF) in the World Economic Forum (WEF) in Switzerland.
In a press briefing in Davos, Romualdez cited several issues including those under the energy, agriculture and environmental sectors that need to be addressed in the country and said that “Filipinos cannot wait” amid all the pressing problems.
“We cannot wait. President Marcos cannot sit on his hands,” the Speaker said. “He has no time to just waste time. He needs to lead the country.”
Finance Secretary Benjamin Diokno earlier introduced to economic leaders in Switzerland the Marcos administration’s plan to establish a sovereign fund “to support the goals set” for the Philippines.
For Senate Minority Leader Koko Pimentel, Marcos’ “soft launch” of the sovereign fund at the economic forum is “premature” and a ploy to expedite the enactment of the measure – calling the move a way “to tie the hands of Congress.”
To answer, Romualdez said, “With all due respect, it’s already been filed in the Senate. For all those Senators who have contrary thoughts – just read the bill and deliberate it from the Senate. Let’s take it from there.”
Voting 279-6, lawmakers approved on third and final reading House Bill 6608 creating the MIF after the chief executive certified the proposed fund as urgent.
Despite having only two senators in the opposition, Pimentel earlier said he believes the whole upper chamber will not let the controversial bill just easily be passed into law.
Senate President Migs Zubiri also previously assured that the bill will be studied with a “fine tooth comb” during deliberations and plenary hearings.
READ: The proposed Maharlika Investment Fund: What you need to know
