Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office)

Albay 2nd district Rep. Joey Salceda says its now time to "move forward" following the issuance of the revised implementing rules and regulations (IRR) of the Maharlika Investment Fund (MiF). 

"Now let’s move forward to more pressing issues - like what investments are the most critical at this point of our development. Water, transport, and energy infrastructure certainly come to mind," Salceda said in a statement Saturday, Nov. 11. 

"As PBBM (President Marcos) promised, MIF will be online by the end of 2023, and could make initial investments by the start of 2024," noted the House Committee on Ways and Means chairman. 

Salceda earlier quelled MIF critics' collective groans when he said that the reported suspension of the Philippines' first sovereign wealth fund was merely to allow for a better IRR. 

"As I said repeatedly during the past month, it was always about recruiting who the President thinks can run MIF best. The most important change here is that the President can now require the advisory body to submit additional names if he sees that to be necessary," Salceda said, referring to the revival IRR. 

"Considering that the nominees still have to pass all necessary qualifications set by the Advisory Body, that actually widens the net we cast for appointees to lead the MIF. That was almost the entire point of the revision," he stressed. 

"As I said back then, no need to overthink this. It’s not about resurrecting old issues that were already addressed or supposed fears or misgivings. It was always about who can lead this best in the President’s judgment," the Bicolano further said.