Senators Grace Poe and Sonny Angara expressed their support for the proposal to sell nonperforming government assets to bankroll the Maharlika Investment Fund.
The government has recently started exploring possible sources of funds to bankroll the proposed sovereign wealth fund.“They are called assets, but some are nonperforming or problematic, riddled by corruption and mismanaged — thus, may be handled better by the private sector,” Poe said in a statement. “The sale however should be done transparently to the highest bidder. The buyer’s credibility should be considered.
Angara echoed Poe’s pronouncements, saying in Filipino: “If a government property, like land, is not being used, it’s better to sell it or develop it through a joint venture for the benefit of the people. We only need to ensure that transactions are proper and transparent, especially when what’s at stake is public funds or funds meant for the public.”
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