Senate set to pass MIF bill Solons ban GSIS, SSS, 3 gov’t firms from investing in wealth fund READ MORE:
Senators were poised to pass the chamber’s version of the Maharlika Investment Fund bill last night, even as they successfully introduced an amendment that explicitly prohibits government institutions from investing in the country’s proposed sovereign wealth fund.
“We are waiting for the Senate [version of the bill]…but we are very much eager, [to have it adopted once approved there],” Dalipe said at a news conference Tuesday. * Finance Secretary Benjamin Diokno also said board members of state pension institutions should not be “precluded” from deciding on possible investments in the proposed sovereign wealth fund.
“We are waiting, we are keeping a close watch, and we hope it will turn out fine tonight and we can have it done by tomorrow,” he added.
When the proposal received tremendous backlash even from executives of GSIS and SSS, the contested provision was removed.
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