PRESIDENT Ferdinand R. Marcos, Jr. said on Monday that Congress must be allowed to perform its legislative functions in improving the proposed sovereign wealth fund bill.
nal form because we could be debating provisions that will no longer exist,” Mr. Marcos was quoted in a Palace statement as telling reporters accompanying him on a flight to Brussels, where he is due to attend the Association of Southeast Asian Nations-European Union summit on Dec. 13-14.
“It is very clear that we need added investment and this is another way to get that,” he added when queried about House Bill 6398, which proposes to create the Maharlika Wealth Fund. The legislation has since been altered, with the Bangko Sentral ng Pilipinas designated as the source of the fund’s capital.
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