Senate Minority Leader Aquilino Pimentel III on Sunday criticized President Ferdinand Marcos Jr.'s plan to present the proposed sovereign wealth fund at the World Economic Forum (WEF) meet in Davos, Switzerland this week.
Senate Minority Leader Aquilino Pimentel III on Sunday criticized President Ferdinand Marcos Jr.'s plan to present the proposed sovereign wealth fund at the World Economic Forum meet in Davos, Switzerland this week.
He added that global and business leaders would directly hear from Marcos the fundamentals about the sovereign wealth fund. Moreover, Pimentel said he is worried that “the move would only put pressure on the Senate to enact the measure swiftly” at the expense of more pressing legislation.Senator Pimentel reiterated his opposition to the measure, saying the fund is “prone to abuse and corruption similar to what happened in Malaysia.”
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