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Manila Bulletin devider Philippines devider National devider This senator is 'very enthusiastic' about MIF, says Romualdez

This senator is 'very enthusiastic' about MIF, says Romualdez

Published Dec 14, 2022 12:55 pm

House Speaker Martin Romualdez, one of the prime movers of the Maharlika Investment Fund (MIF) Bill, has described one senator as "very, very enthusiastic" about the proposed Philippine sovereign wealth fund.

House Speaker Martin Romualdez (left) and Senator Mark Villar

Romualdez, speaking to Manila-based reporters in Brussels, Belgium Wednesday morning (Philippine time), Dec. 14, identified the senator as Mark Villar.

"Senator Mark Villar, he’s actually picking up from what was approved at the Appropriations level. So we have a refined measure," he said, referring to the measure that would become House Bill (HB) No.6608, or the amended MIF Bill.

The measure is now up for second reading in the House plenary.

"And when we spoke just last night, he (Villar) says, he will use the draft bill that we’ve already refined through appro approval in the committee that is now on the floor as the starting point and he’s now very, very enthusiastic about it," Romualdez said.

"Because he appreciates, I guess, his exposure in his family’s business, and he sees how scale how size matters when you come into capital-intensive projects and programs that actually do make money," the Leyte 1st district congressman said.

Under the bicameral set-up of the Philippine legislature, a bill passed by the lower chamber (House) must have a counterpart measure in the Senate for its enactment to be expedited.

Pundits believe that while the MIF will breeze through the 312-strong House, it will have a harder time hurdling the Senate.

Related Tags

Senate Belgium Mark Villar House of Representatives mif Maharlika Investment fund 121422 enthusiastic Martin Romualdez
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