Senior Deputy Minority Leader Paul Daza asked the leadership of the House of Representatives to slow down and further deliberate on the proposed creation of the Maharlika sovereign wealth fund. | jiandradeINQ krixiasINQ /PDI
The proposed measure to create the Maharlika wealth fund was approved in principle by the House committee on banks and financial intermediaries a day after it was filed, and on Dec. 1 the panel gave its nod to amendments suggested by the technical working group headed by Albay Rep. Joey Salceda.
The senior deputy majority leader further pointed out the need to discuss putting caps on administrative expenses, including salaries and bonuses, as the bill seeks exclusion from the coverage of the Governance Commission for GOCCs .“The exemption [from] the procurement law needs extensive discussion and explanation on why it is needed,” Daza added.
“Why is the bill’s passage being hastened? They did not even invite the stakeholders so there would be a free discussion on its pros and cons. Only executives of the GSIS, SSS, Landbank, and DBP and officials involved in finance talked about it,” she said, adding, “there should be a free discussion and consultation with the public.
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