CALLING it the "country's largest investment scam," the Akbayan Party on Wednesday slammed the Senate's quick passage of the Maharlika Investment Fund (MIF) bill, approved on second and third and final reading by senators on the eve of the adjournment of the First Regular Session of the 19th Congress. "Our…
“Safeguards may be in place now, but a law is only as good as its execution and we should not be lulled into a false sense of security just because these measures exist in the bill,” Akbayan said in a statement on Wednesday.
MANILA: Philippine lawmakers approved the creation of an $8.9 billion sovereign wealth fund on Wednesday to boost growth and cut poverty, but critics insisted it was a “scam” and should be scrapped. President Ferdinand Marcos Jr had called for a swift passage of the bill, filed by his son and cousin late last year, to enable the debt-laden government to earn extra funds to
THE economic team of the Marcos Jr. administration assured the public that the approved Senate version of the Maharlika Investment Fund (MIF) which the House later adopted contains all the safeguards against abuse and ensures prudent use of the P500-billion fund. “The Senate leadership has pulled out all the…