Whoever said that independent minority solon Albay 1st district Rep. Edcel Lagman and President Ferdinand “Bongbong” Marcos Jr. would never agree on anything regarding the controversial Maharlika Investment Fund (MIF)?
Whoever said that independent minority solon Albay 1st district Rep. Edcel Lagman and President Ferdinand “Bongbong” Marcos Jr. would never agree on anything regarding the controversial Maharlika Investment Fund ?In a statement Tuesday afternoon, Jan. 24, Lagman expressed elation over Marcos’s stand on the proposed use of dividends from government-owned and controlled corporations as seed money for the MIF.
“GOCC dividends must not be securitized or sequestered to fund the MIF because they are used for budgetary support to augment the sources of financing the GAA. They must not be parked in long-term investments,” Lagman, president of opposition faction Liberal Party , said. Over the weekend, administration ally Albay 2nd district Rep. Joey Salceda revealed that he took part in a “reengineering” of the House-approved MIF measure. Under this “new” MIF, dividends from GOCCs would be used as start up capital, and that dividends from the Bangko Sentral ng Pilipinas would be excluded.
“They must not be the subject of Initial Public Offering which could lead to private control. Government ownership cannot be limited to less than 50 percent,” he stressed, alluding to another provision in the tweaked MIF that wasn’t in HB No.6608.
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