THE House of Representatives approved the Maharlika fund bill on second reading on Thursday.
House Bill 6608, as amended, hurdled second reading through voice vote among lawmakers.'As chair[man] of the Technical Working Group for refining the Maharlika Investment Fund Act, I thank the House for its favorable consideration of the enhanced version of the bill', Albay 2nd District Rep. Joey Salceda said in a statement.President Ferdinand Marcos Jr.
has certified the bill as urgent which will allow the passage of the bill on third reading on the same day.The Maharlika fund or sovereign wealth fund will enable the government to finance its infrastructure and other big projects using money from its banks. A plan to initially use pension funds from the Government Service Insurance System and Social Security System was scrapped.
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