The House of Representatives is waiting for the possible inputs of Presidential Chief Legal Counsel Juan Ponce Enrile on the proposed Maharlika Investment Fund (MIF).
Thus, said Manila 5th district Rep. Irwin Tieng, chairman of the House Committee on Banks and Financial Intermediaries. The panel is the mother committee of the MIF Bill, embodied in House Bill (HB) No.6608.
"We understand the concerns of our chief legal counsel. We’ll await iyong suggestions niya (We'll await his suggestions), and we’ll deliberate it on the floor," Tieng said, referring to Enrile, a former senator.
"Kami on our end, sa Committee on Banks (On our end, in the Committee on Bank), we’re trying our best," said the Manila solon, referring to the recent improvements that the panel made on the controversial measure.
Foremost among these changes is the exclusion of pension agencies Government Service Insurance System (GSIS) and Social Security System (SSS) as contributors to the proposed Philippine sovereign wealth fund.
The original version of the MIF was supposed to draw seed money worth P175 billion from the two pension handlers .