The House of Representatives approved on second reading Thursday afternoon, Dec. 15, the measure creating the Philippine sovereign wealth fund, dubbed the Maharlika Investment Fund (MIF).
The proposed MIF, embodied in House Bill (HB) No.6608, was passed via simple voice vote (ayes vs. nayes) during Thursday's plenary session. Deputy Speaker and Davao City 3rd district Rep. Isidro Ungab, the presiding officer, declared the passage of the bill on second reading.
Right after the second reading-passage, Malacañang's certification as urgent of the MIF Bill was read on the plenary floor.
The lower chamber is expected to hold nominal voting on the bill shortly.