Cause-oriented groups staged an indignation rally in Mendiola, Manila on Tuesday, July 18, over the signing into law of the Maharlika Investment Fund (MIF) by President Marcos. READ:
The protesters. led by Anakbayan, Panday Sining, Kabataan Party-list, National Union of Students of the Philippines , and Student Christian Movement, expressed their concern that the retirement funds of contributors and pensioners of the Social Security System , Government Service Insurance System , and other government institutions may be put at risk if they are invested in the MIF.
Carrying placards bearing the words "Maharlika Investment Fund a scam," "No to Maharlika Fund," the demonstrators marched to Mendiola amid heavy police security.The MIF is a development fund to promote the country's socio-economic development. The bill is exempted from taxes and rules on the disposal of assets and the review of contracts by the Office of the Government Corporate Counsel.
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