“There will be an internal audit as well as external audit, not to mention the oversight committee of Congress… Let us have trust in ourselves… We are an open society, and we are not like other countries,” Diokno said during an interagency Dev-- READ:
Finance Secretary Benjamin Diokno on Monday sought to assuage the concerns expressed by different groups on the proposed P275-billion Maharlika Wealth Fund.
Government Service Insurance System president Wick Veloso said the government would ensure that the wealth fund would be transparent. “What we need is an investment strategy.. .We want to do this to help our economy…I will make sure that their [GSIS members’] money is protected,” he said. The groups include the Foundation for Economic Freedom, Competitive Currency Forum, Filipina CEO Circle, Financial Executives Institute of The Philippines, Institute of Corporate Directors, Integrity Initiative Inc., Makati Business Club, Management Association of The Philippines, Movement for Good Governance, Philippine Women’s Economic Network, UP School of Economics Alumni Association and the Women’s Business Council Philippines Inc.
Moreover, government-owned-and-controlled corporations are also far from generating large operating surpluses, they said.
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