Metro Manila (CNN Philippines, May 3) — The Senate is eyeing to approve the proposed Maharlika Investment Fund by the last week of May, said Senate President Juan Miguel Zubiri on Wednesday.
Zubiri said deliberations on the controversial measure will run for two weeks starting May 15.
\”The Maharlika bill is set on track. Nakausap ko si Senator [Mark] Villar kahapon (I talked to Senator Villar yesterday), he told me that it will be ready for marathon deliberations by May 15,\” he said in a media forum.
\”So, by May 15 and hopefully, may two weeks po tayo niyan, dalawang linggo ng debate, at ipapasa natin hopefully by last week of May. Para sa ganun, before the first week of June, nag-bicam na sila at mayroon na tayong ratified version,\” added Zubiri.
[Translation: So, by May 15 we still have two weeks for the debates, hopefully, we can pass it by last week of May. So, they can have the bicam before the first week of June and they can already have the ratified version.]
Villar filed the bill and also chairs the committee on banks, financial institutions, and intermediaries which is tackling the measure.
President Ferdinand Marcos Jr. earlier said the government will tap the MIF for possible investments in agriculture, energy, digitalization, and the fight against climate change, among others.
It is patterned after the sovereign wealth funds of other nations, including Singapore, China, Hong Kong, South Korea, and Malaysia.
