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PRESIDENT Ferdinand Marcos Jr. maintained on Thursday, October 19, 2023, that the controversial Maharlika Investment Fund will proceed, contrary to reports that he put its implementing rules and regulations on hold.In his departure speech for his participation in the Association of Southeast Asian Nation Gulf Cooperation Council Summit , Marcos said the government is still committed to make the MIF operational before the end of the year.
Executive Secretary Lucas Bersamin issued a memorandum addressed to Bureau of Treasury officer-in-charge Sharon Almanza, Land Bank of the Philippine President and Chief Executive Officer Lynette Ortiz and Development Bank of the Philippines President and CEO Michael de Jesus for the suspension of the implementation of the IRR of Republic Act 11954 or the Maharlika Investment Fund Act of 2023.
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