Negros Oriental 3rd district Rep. Arnolfo "Arnie" Teves Jr. (left) and Senator Imee Marcos (Facebook)

Controversial Negros Oriental 3rd district Rep. Arnolfo "Arnie" Teves Jr. has slammed the proposed P500-billion Maharlika Investment Fund (MIF), which he said wasn't good for the country.

Teves, who has been out of the country since Feb. 28, brought up the MIF during his virtual guesting at a Quezon City mews forum on Thursday, June 8.

He even gave special mention to a senator--presidential sister Imee Marcos--for opposing the planned Philippine sovereign wealth fund.

"Maraming nagkagusto doon, right at the onset angal ako doon (A lot of people supported it, but I was against it right at the onset). That's why I'd like to shout-out to Madam Senator Imee Marcos. Ma'am, I salute you for not voting for the Maharlika," Teves said.

"Tama yung ginawa niyo Ma'am Imee (What you did was correct, Ma'am Imee)," added the suspended congressman.

"Hindi maganda ang Maharlika para sa atin at hindi tayo dapat magkaroon ng Maharlika or sovereign fund (The Maharlika is not good for us and we shouldn't have a Maharlika or sovereign fund)," he said.

According to Teves, "[A] sovereign fund should only be excess funds of the country."

"Hindi nga tayo makabayad sa P13.9 trillion na utang natin, magpapahiram pa tayo ng pera? Anong klaseng sistema yun? (We can't even pay our debt of P13.9 trillion, and here we are lending off money? What kind of system is that?)" he asked.

Senator Marcos is the elder sister of President Ferdinand "Bongbong" Marcos Jr.

The MIF has already passed the scrutiny of both the House of Representatives and the Senate. It now only needs President Marcos' signature for it to become a law.

Teves, the alleged mastermind in the March 4 assassination of Negros Oriental Governor Roel Degamo, has refused to return to the country for fear of his life.