Speaking to reporters in Malacañang, Marcos said he agreed with lawmakers saying the use of GOCC for the proposed sovereign fund is not allowed under the law.
PRESIDENT Ferdinand 'Bongbong' Marcos Jr. has rejected a proposal to use dividends coming from government-owned and -controlled corporations to fund the proposed Maharlika Investment Fund.Speaking to reporters in Malacañang, Marcos said he agreed with lawmakers saying the use of GOCC for the proposed sovereign fund is not allowed under the law.'You cannot use funds of the GOCC. Pera ng gobyerno 'yun . What will the government spend? It was a proposal.
The idea of using GOCC money for the proposed Maharlika Fund was first broached in Davos, Switzerland, but he was 'lukewarm' about the idea after having a conversation with Finance Secretary Benjamin Diokno.The House of Representatives passed House Bill 6608 or the proposed 'Maharlika Investment Fund Act' on third and final reading on December 15 last year.The bill was transmitted to the Senate on December 19.
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