Minority Senators warned against distorting the interpretation of the Senate version of the Maharlika Investment Fund (MIF) bill that mandates an “absolute” prohibition against using pension funds for the controversial sovereign wealth fund. Know more:
MINORITY Senators warned against distorting the interpretation of the Senate version of the Maharlika Investment Fund bill that mandates an “absolute” prohibition against using pension funds for the controversial sovereign wealth fund.
Hontiveros was obviously reacting to remarks by Finance Secretary Benjamin E. Diokno and, before that, President Ferdinand R. Marcos Jr., qualifying the prohibition placed by senators. In a separate briefing, Diokno said that while the Senate version imposed a prohibition on using the pension funds to seed the MIF, there was no prohibition on these pension funds investing in projects that the MIF may undertake; say, a major infrastructure project.
The senator warned that stiffer penalties await those who would be found to have misused the people’s money.
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