In a statement to reporters, Executive Secretary Lucas Bersamin said the President wants to conduct a thorough study on the sovereign investment fund's implementation.
MANILA — President Ferdinand Marcos, Jr. has suspended the implementation of the Maharlika Investment Fund, Malacañang said on Wednesday. "He wanted to study carefully the to ensure that the purpose of the fund will be realized for the country's development with safeguards in place for transparency and accountability," Bersamin said.
A Palace memorandum on the matter dated Oct. 12 to the heads of Bureau of Treasury, Land Bank of the Philippines, and the Development Bank of the Philippines to suspend the implementation "pending further study thereof." It also told them to "notify all concerned heads of departments, bureaus, offices and other agencies of the executive department, including s of such action."
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marcos suspends Maharlika fund implementation — PalacePRESIDENT Ferdinand Marcos Jr. suspended the implementation of the Maharlika Investment Fund (MIF) this year pending further study, Malacañang announced on Wednesday.
Read more »
Maharlika IRR implementation suspended pending further study, says DBP headThe enforcement of the implementing rules and regulations of the Maharlika Investment Fund (MIF) was ordered suspended pending further study, the Development Bank of the Philippines said.
Read more »
Marcos suspends Maharlika fund implementation, says it needs further review' directed the Treasurer to suspend implementation of the IRR, pending further study,' Developement Bank of the Philippines CEO Michael de Jesus tells Rappler on Wednesday, October 18
Read more »
Ford executive chair calls for end of auto strikeAuto giant Ford's executive chairman on Monday urged workers to end their month-long strike, warning a prolonged stoppage could have a major economic impact.
Read more »
Wharton Chan tapped as new POC secretary-generalAtty. Wharton Chan of kickboxing is the new secretary-general of the Philippine Olympic Committee (POC), it was announced on Tuesday.
Read more »
Marcos Jr names air force general as new PSG head: PalacePresident Ferdinand Marcos, Jr. has appointed Philippine Air Force (PAF) Brig. General Jesus Nelson Morales as the new commander of his security detail.
Read more »