The House of Representatives has adopted the Senate's Maharlika Investment Fund (MIF) Bill as an amendment to its own version of the measure. ManilaBulletin
In a rather circuitous fashion, the House of Representatives adopts the Senate's Maharlika Investment Fund Bill as an amendment to its own version of the measure.The House of Representatives has adopted the Senate's Maharlika Investment Fund Bill as an amendment to its own version of the measure.
"We have been informed that the Committee on Banks and Financial Intermediaries, the sponsor of House Bill No.6608, as well as the authors thereof, were in concurrence with the provisions of Senate Bill No.2020," she said. Senior Deputy Speaker and Pampanga 3rd district Rep. Aurelio "Dong" Gonzales, the presiding officer at that time, subsequently called for a voice vote wherein the positive votes won.Described by proponents as a "vehicle for investments", the MIF seeks to create a new revenue stream for the country by tapping investible funds for investments either here and abroad. The profits from these investments will be used to bankroll big ticket projects.
However, no reconciled Bill resulted from the bicam since the lower chamber went for adoption. This defeated the purpose of the bicam meeting.
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