The Philippines should "take advantage" of its newfound tag as "rising star of the Association of Southeast Asian Nation (ASEAN) region" by institutionalizing a sovereign wealth fund. Thus, said Ilocos Norte 1st district Rep. Sandro Marcos, one of the authors of House Bill (HB) No.6398 or the...
The House tax panel approved on Monday, Dec. 5, the tax provisions of the proposed House Bill (HB) No. 6398, or the Maharlika Investment Fund Act, which will ensure that tax benefits go to the investment fund rather than line the pockets of executives and other officials. Albay 2nd district Rep....
Various business and think tank groups have strongly opposed the planned Maharlika Wealth Fund (MWF), a Philippine government version of a Sovereign Wealth Fund (SWF), stating the proposal under House Bill 6398 will not amount to wealth creation but instead puts at risk peoples’ pension money in...
Some senators on Monday, December 5 have expressed their reservations about the propsoed Maharlika Investment Fund (MIF) noting it is a “high-risk, high reward” endeavor. “Thus, there should be safeguards and limitations on investment into riskier endeavors,” Senator Sonny Angara, chairman...
The Department of Finance (DOF) expects the proposed sovereign wealth fund will be passed into law within the first semester next year despite oppositions seeking to block its creation. Finance Secretary Benjamin E. Diokno said on Monday, Dec. 5, said the proposed bill creating the Maharlika Wealth...
The proposed P275-billion Maharlika Wealth Fund (MWF) wasn't the idea of President Ferdinand "Bongbong" Marcos Jr. per se. Ilocos Norte 1st district Rep. Sandro Marcos (left) and his father, President Ferdinand "Bongbong" Marcos Jr. (Speaker's office) Senior Deputy Majority Leader and Ilocos Norte...
Senior Deputy Majority Leader and Ilocos Norte 1st district Rep. Sandro Marcos refuted claims Monday, Dec. 5 that the proposed P275-billion Maharlika Wealth Fund (MWF) is being "railroaded" in the House of Representatives. Ilocos Norte 1st district Rep. Sandro Marcos (Facebook) "It wasn't...
Lawmakers in the current 19th Congress weren't the first to propose the creation of a Philippine sovereign wealth fund. Senior Deputy Speaker Gloria Macapagal-Arroyo Senior Deputy Speaker and former president Gloria Macapagal-Arroyo shared this trivia in a statement Monday morning, Dec. 5, wherein...
Albay 2nd district Rep. Joey Salceda has insisted that the timing is right for Congress to push for the enactment of a Philippine sovereign wealth fund, to be dubbed the Maharlika Wealth Fund (MWF). Albay 2nd district Rep. Joey Salceda This, despite the comments from several sectors that the MWF...
With public school teachers as the biggest contributing sector in the country’s state-run social insurance institution, a group raised concerns about the creation of the “Maharlika Investment Fund.” Members of the Alliance of Concerned Teachers (ACT) Philippines / NOEL PABALATE / MANILA...
P3PWD Party-list Rep. Rowena Guanzon warned against the creation of the controversial P275-billion Maharlika Wealth Fund (MWF) by the Marcos administration, likening it to the mythical Tallano gold said to be in possession of the Marcos family. P3PWD Party-list Rep. Rowena Guanzon (Photo from Rep....
Once again, Albay 2nd district Rep. Joey Salceda felt compelled to respond to a known personality's comment on the proposed P275-billion Maharlika Wealth Fund or MWF. (MANILA BULLETIN) The latest personality happens to be former Supreme Court (SC) Associate Justice Antonio Carpio, who reportedly...
