GSIS president and General Manager Arnulfo 'Wick' Veloso on Tuesday branded the proposed Maharlika Wealth Fund as a 'long-term investment.' Veloso said this would contribute to the goal of the Marcos administration towards nation-building.
Government Service Insurance System president and General Manager Arnulfo "Wick" Veloso on Tuesday branded the proposed Maharlika Wealth Fund as a "long-term investment."“Ang Maharlika po ay isang long-term investment. At ang layunin po nito ay hindi lang po magkaroon ng investment ngunit magkaroon din po ng tulong for national development,” Veloso told a radio interview which was quoted in a statement issued by the Office of the Press Secretary.
Veloso allayed fears and concerns over transparency issues in the MIF as he ensured that the proposed Maharlika Board will guarantee that the investments under the fund are protected. "At kami po ay naroroon para siguraduhin na ma-invest ito properly [We are there to ensure that it would be invested properly]. There are various layers of transparency to make sure that the funds are protected and invested properly and we are going to make sure the public is going to be made aware," he added.
The Maharlika Wealth Fund, as proposed under House Bill 6398, aims to allow the government to invest surplus reserves or revenues in real estate and financial assets.
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