(Eagle News) — President Bongbong Marcos on Thursday, Oct. 19, clarified that the implementation of the Maharlika Investment Fund Law will push through.
He said he was “still committed to having (the MIF) operational before the end of the year.”
“I would just like to make a comment because one of the important aspects of this trip will be for us to introduce the Maharlika Investment Fund to the rest of the world and certainly, more specifically, to the Middle Eastern countries. I was a bit alarmed by the news reports early this morning that I read in the newspapers that we have put the Maharlika Fund on hold. Quite the contrary,” he said.
He added that “the organization of the Maharlika Fund proceeds at pace.”
“And what I have done though is that we have found more improvements that we can make specifically to the organizational structure of the Maharlika Fund,” he said.
“So we should not misinterpret what we have done as somehow a judgment on the rightness or wrongness of the Maharlika Fund,” he added.
The President signed into law Republic Act No. 11954 creating the MIF — a pool of funds from state-run financial institutions to be invested in projects — with the aim of generating additional public funds.
The law also creates the Maharlika Investment Corp., which is tasked to manage the MIF.