Marcos Jr. certifies as urgent Maharlika Investment Fund bill

President Ferdinand Marcos Jr. has certified as urgent House Bill No. 6608, which seeks to establish a sovereign wealth fund for the country, the House of Representatives said. | GabrielLaluINQ

This means the measure can be deliberated on Thursday, which is possibly the last session day of the 19th Congress for 2022.

Before the bill was passed during the second reading, there were several criticisms hurled at the proposal, as many lawmakers feel that now is not the right time for the country to have a sovereign wealth fund . Also, the bill got public backlash after the original version of the bill — HB No. 6398 — had include P125 Government Service Insurance System , P50 billion from Social Security System , and P25 billion from the national budget into the starting fund of the MIF.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

inquirerdotnet /  🏆 3. in PH

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.

[OPINION] Bongbong, Brussels, and Burma: Addressing President Marcos Jr.’s 'democratic deficit''President Marcos Jr. arrives in Brussels with a serious image problem, his democratic credentials a priori much in doubt.' More in this Opinion piece:
Read more »

Rappler Recap: Bakit nasa Belgium si President Marcos?What does the Marcos administration hope to get from this trip, and how is ASEAN angling to be an even bigger player in the world economy? RapplerRecap
Read more »

LOOK: Marcos meets with European Council President Michel in BelgiumPresident Ferdinand “Bongbong” Marcos Jr. on Wednesday (Manila time) met with European Council President Charles Michel in Brussels, Belgium.
Read more »

Romualdez wants Marcos to certify Maharlika Investment Fund bill as urgentBRUSSELS, Belgium — House Speaker Martin Romualdez wants President Ferdinand "Bongbong" Marcos Jr. to certify as urgent the passage of the controversial Maharlika Investment Fund
Read more »

Marcos assures EU transport execs of PH compliance to maritime safety standardsBRUSSELS, Belgium: President Ferdinand 'Bongbong' Marcos Jr. on Tuesday met with European Union (EU) transport officials as a follow-up to his earlier promise that the Philippines...
Read more »

Marcos assures EU transport execs of PH compliance to maritime safety standardsBRUSSELS, Belgium: President Ferdinand 'Bongbong' Marcos Jr. on Tuesday met with European Union (EU) transport officials as a follow-up to his earlier promise that the Philippines...
Read more »