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Manila Bulletin devider Philippines devider National devider Zubiri: Senate awaits House-approved version of the Maharlika Investment Fund bill

Zubiri: Senate awaits House-approved version of the Maharlika Investment Fund bill

Published Dec 16, 2022 01:37 pm

The Senate awaits the transmission of the controversial Maharlika Investment Fund bill following its approval by the House of Representatives on Thursday, December 15.

"They just passed it yesterday and we are now on a (Christmas) break. So logically nothing can be transferred or referred to us till January 23," Senate President Juan Miguel "Migz" Zubiri said.

Zubiri explained that the House-approved bill would be referred to at least four committees.

These are the the committees on banks, government-owned and -controlled corporations (GOCCs), ways and means, and finance as secondary committees.

Zubiri said the banks committee of Senator Mark Villar would most likely be the lead committee.

"Under our rules, after the referral to the proper committees it will be now up to the chairmen to schedule the hearings for discussion which could be by middle of February pa," he explained.

"We respect the committee system in the Senate and we will study through the hearings and plenary debates all measures with a fine toothed-comb to make sure every bill or proposal would be good for our people and our country," he said.

Zubiri said the speed of the passage of the measure is dependent on the ability of the chairman and the quality of work that is put in during the hearings and debates.

"That is how it is in the Senate and that’s how it’s always been in this institution," he added.

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Senate Maharlika Wealth Fund migz zubiri
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