The government’s economic managers have urged for the swift passage of the proposed sovereign wealth fund bill, noting it will help usher in the country’s inclusive and sustainable growth. In a joint statement, the Department of Finance (DOF), Department of Budget and Management, National...
The Chamber of Commerce of the Philippine Islands (The Chamber) has recommended an in-depth analysis and evaluation of what it called as similar sovereign wealth funds (SWFs) existing in the country to help in coming up with a decision on the proposed Maharlika Wealth Fund (MWF). In a statement,...
If the proposed Maharlika Wealth Fund is done properly, it could actually work and would present vast investment opportunities, Go Negosyo Founder Joey Concepcion said. Go Negosyo founder Joey Concepcion (Photo from Go Negosyo via Facebook) “Done properly, I think it’s a good idea,”...
Senator Risa Hontiveros on Wednesday, December 7 reiterated her call for the government to consider granting workers' demands for salary adjustments in order to address runaway inflation, which surged to 8.0 percent in November. Hontiveros said she particularly supports the call for wage hikes as...
The Bureau of the Treasury assured the public that the government will impose safeguard measures to ensure the integrity of the proposed Maharlika Wealth Fund (MWF). In a statement, National Treasurer Rosalia V. De Leon said on Wednesday, Dec. 7, that the bureau supports the establishment of a P250...
The national government was urged to prioritize social benefits for workers and production subsidies for the marginalized sectors, saying that this would help “boost productivity” in the country. (Unsplash) “In social benefits and production aid – these are where the Marcos administration...
While House Deputy Minority Leader and ACT Teachers Party-list Rep. France Castro on Tuesday, Dec. 6, urged President Ferdinand “Bongbong” Marcos Jr. to prioritize salary increase amid the 14-year-high inflation rate of 8 percent in November 2022, House Ways and Means chair and Albay 2nd...
The Development Budget Coordination Committee (DBCC), an inter-agency body tasked to set the government’s macroeconomic assumptions, assured that the planned sovereign wealth fund will have enough safeguards. Budget Secretary Amenah F. Pangandaman, who chairs the DBCC, assured that enough...
Senator Risa Hontiveros on Tuesday echoed the sentiments if other lawmakers who expressed concerns over a proposal creating a sovereign wealth fund, saying it is counterproductive to the nation's economic goals. Hontiveros said she believes the proposed "Maharlika" wealth fund is better used to...
FINDING ANSWERS Former Senator Atty. Joey D. Lina It’s not surprising why the proposal to put up a sovereign wealth fund called Maharlika with a seed money of ₱275 billion is facing stiff resistance from many sectors for a variety of reasons. Foremost among them is the perceived susceptibility...
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...
