'We won!': Guanzon claims victory for anti-Maharlika fund movement


P3PWD Party-list nominee Rowena Guanzon was among the first to claim victory for the anti-Maharlika fund movement after the House of Representatives announced that it would no longer tap the Government Service Insurance System (GSIS) and Social Security System (SSS) as contributors to the planned sovereign wealth fund.

(Rowena Guanzon's Twitter)


"We won! Cong Stella Quimbo announced that the Maharlika Fund Bill will exclude GsIS and SSS.#NotoMaharlikaWealthFund," Guanzon said in a recent series of tweets.

"We won . GSIS and SSS are going to be excluded from Maharlika Investment Fund. Call it what it really is, an investment fund, not a wealth fund #NoToMaharlikaFund," added the former Commission on Elections (Comelec) commissioner.


Guanzon further hailed Quimbo, who was the one who announced the running change to the proposed Maharlika Wealth Fund (MWF).


"Cong.Stella Quimbo, summa cum laude of the UP School of Economics, did not disappoint. #NoToMaharlikaFund," the outspoken Guanzon said.


The GSIS and SSS were officially dropped as fund sources during a House Committee on Appropriations hearing Friday wherein the funding provision of the MWF bill was tackled.


The Bangko Sentral ng Pilipinas (BSP) replaced the role of the GSIS and SSS in the proposed statute, which Quimbo has described as a "vehicle for investment".


Quimbo, a senior vice chairperson of the appropriations panel, is one of the main authors of the MWF.