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Manila Bulletin devider Philippines devider National devider Zubiri: No instruction from Marcos to hasten passage of Maharlika fund bill

Zubiri: No instruction from Marcos to hasten passage of Maharlika fund bill

Published Dec 12, 2022 08:35 pm

Senate President Juan Miguel "Migz" Zubiri said the Senate did not receive any instruction from President Ferdinand "Bongbong" Marcos Jr. to expedite the passage into law of the proposed sovereign wealth fund or the Maharlika Wealth Fund bill.

"In fairness to the President he never instructed me to hasten the proceedings on this issue," Zubiri told reporters in an interview on Monday, December 12.

But Zubiri disclosed that he and House Speaker Martin Romualdez discussed the measure two Sundays ago.

Nevertheless, the Senate leader said senators will discuss House Bill No. 6398 in a caucus. No counterpart bill has yet been filed in the Senate.

President Marcos, in an interview en route to Brussels, Belgium, has expressed his support on the proposal saying it would be advantageous to the country.

Marcos said it is very clear that the country needs "added investment" and the MWF is an option the government can consider.

Senate Minority Leader Aquilino "Koko" Pimentel III, however, said Marcos Jr.'s remark on the MWF proposal is a signal for lawmakers to support the bill.

"He is now calling on his supporters to support the concept, but to study it very well," Pimentel said.

He also said the President's comments on the measure is meant to ask lawmakers to do their work.

"And part of our work is to question whether we need this at this time," he said.

Related Tags

Marcos administration Maharlika Wealth Fund PBBM migz zubiri
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