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Manila Bulletin devider Philippines devider National devider Senate resumes session on Monday: 'Maharlika Fund,' minimum wage hike top senators' agenda—Zubiri 

Senate resumes session on Monday: 'Maharlika Fund,' minimum wage hike top senators' agenda—Zubiri 

Published May 7, 2023 06:02 am
  The Senate is all set to start deliberations on the measure that seeks to give respite to Filipino workers by legislating a P150 daily wage increase.    Senate President Juan Miguel “Migz” Zubiri said senators are in support of a salary hike as the current P570 daily wage is too low.    Congress will resume sessions on Monday, May 8 and will adjourn sine die on June 3.    “Workers are not feeling the drop in inflation; the price of gas and even the price of electricity is still high, the transportation costs are also higher now…so we really have to help our workers,” Zubiri said in a Radio DZBB interview on Sunday, May 7.   The Senate leader said he is confident of the measure’s passage in the Senate as the bill on a legislated wage hike is supported not only by the Senate President but also by the Senate majority leader and Senate minority leader.   “Sen. Koko (Aquilino) Pimentel (III), has also expressed that he favors this bill that seeks to help our workers,” said Zubiri about the Senate Minority Leader.    “We have so many co-authors of the bill now, including Senators Loren Legarda, Nancy Binay and Grace Poe, and other senators,” he said.    The Senate Committee on Labor, Employment, and Human Resources Development, chaired by Sen. Jinggoy Ejercito Estrada, has set the hearing on the various bills seeking to rationalize the country’s minimum wage rates on Wednesday, May 10.  

Maharlika Investment Fund, other bills

   Likewise, Zubiri said the Senate is committed to also pursue the passage of the proposed Maharlika Investment Fund (MIF) bill, which is a priority of President Ferdinand “Bongbong” Marcos Jr.’s administration.   “We hope to end the debates on the MIF bill, by end of the month,” the Senate chief also said.   “Hopefully, we can ratify (the bill) by first week of June, before we go on sine die break,” he added.   The Senate Committee on Banks, Financial Institutions and Currencies, headed by Sen. Mark Villar concluded the hearings on the Maharlika Fund bills last February.   Sen. Francis “Chiz” Escudero said the latest version of the Senate on the proposed MIF has better chances of passing the Senate as the committee report already reflects major amendments to the previous versions of the bill, which many senators have deemed unacceptable.    Zubiri said the final version of the Senate on the MIF bill will have more safeguards. The Upper Chamber has also made a commitment to the Legislative-Executive Development Advisory Council (LEDAC) to pass the bill before June 2.   “We can assure the public that we have sufficient safeguards to ensure that the MIF would not be used for corruption, personal gain, nor for money laundering. It will be managed by professionals, not by political appointees. The fund would also be subjected to audit by top financial institutions,” he stressed.   “The amendments proposed by our colleagues on the MIF bill are good,” Zubiri added.  

Degamo killing, sugar fiasco part two

   The Senate Blue Ribbon Committee, chaired by Sen. Francis Tolentino, is also set to hold its first hearing into the alleged illegal entries of sugar shipment in Philippine ports ahead of the release of Sugar Order No. 6.    Pimentel and Deputy Minority Leader Sen. Risa Hontiveros have pressed the Senate blue ribbon panel to conduct an in-depth probe into the allegedly irregular importation of 440,000 metric tons of sugar into the country, which she called a “government-sponsored smuggling.”   Also this week, the Senate Committee on Public Order and Dangerous Drugs, presided by Sen. Ronald “Bato” Dela Rosa, will continue its probe into the brazen assassination of Negros Oriental Governor Roel Degamo.   Zubiri said other measures in the pipeline include the amendments to the Build-Operate-Transfer (BOT) law, Medical Reserve Corps bill, the proposed creation of the Philippine Virology Institute, the proposed Internet Transactions Act of 2022, among others.    The senator also said the Senate will pursue discussions on the bill seeking to revitalize the country’s salt industry.    Zubiri said the Senate will prioritize bills that aim to help local salt manufacturers and also revive the livelihood of those in the coastal communities.    

Related Tags

19th Congress Senate of the Philippines National minimum wage Senate President Juan Miguel F.  Zubiri Maharlika Investment fund
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