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Manila Bulletin devider Philippines devider National devider Romualdez defends Maharlika fund, says he trusts SC wisdom

Romualdez defends Maharlika fund, says he trusts SC wisdom

Published Sep 19, 2023 10:59 am

At A Glance

  • House Speaker Martin Romualdez defended the more controversial points of the Maharlika Investment Fund (MIF) on Tuesday, Sept. 19--the same day that former and incumbent solons sought to have the fund declared unconstitutional by the Supreme Court (SC). 

philippines-money-currency_35024-434.jpg(MANILA BULLETIN)

 

 

 

 

 

 

House Speaker Martin Romualdez defended the more controversial points of the Maharlika Investment Fund (MIF) on Tuesday, Sept. 19--the same day that former and incumbent solons sought to have the fund declared unconstitutional by the Supreme Court (SC). 

"We respect the democratic process and the right of every individual to seek legal redress. The House of Representatives, under my leadership, has always prioritized the observance of legislative procedures and adherence to the Constitution," Romualdez said in a statement. 

Romualdez, the prime mover of Republic Act (RA) No. 11954 or the MiF Act in the House of Representatives, said that the law was passed with the intention to drive economic growth, address poverty, and create job opportunities for Filipinos. 

"The certification of the bill as urgent was determined with this vision in mind," he said. 

"Regarding the amendments," the Leyte 1st district congressman continued, "It is not uncommon for bills to undergo changes as they pass through the legislative mill, but we ensure these are done within the bounds of our Constitution and established procedures." 

"We trust the wisdom of the Supreme Court to evaluate the merits of the petition and to arrive at a just and fair decision. We are prepared to cooperate fully with the Court and to provide any necessary clarifications," the leader of the 311-strong House further said. 

"In these times, it is more crucial than ever that we focus on what will uplift and benefit the Filipino people. Let us keep the best interests of our nation at heart," Romualdez said. 

The MIF is essentially the Philippine sovereign wealth fund. 

 

Related Tags

Supreme Court (SC) Martin Romualdez Maharlika Investment Fund (MIF)
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