Senate minority says Maharlika must benefit public, not investors

SENATE Minority Leader Aquilino Martin D. Pimentel III expressed doubts on Monday about private investment in the proposed sovereign wealth fund, saying that the interests of investors will take precedence over those of the public. “We are just creating a protected corporation, a protected entity whose beneficiaries are investors,” Mr. Pimentel told TeleRadyo. He added […]

DBP sees wealth fund role as provider of infra capital

THE Development Bank of the Philippines (DBP) views the proposed Maharlika Investment Fund (MIF) as a valuable source of long-term capital for developing infrastructure. In a statement, the bank’s President and Chief Executive Officer Emmanuel G. Herbosa said such investment will be critical for food, water, green energy, agro-industrial ventures, telecommunications, public infrastructure, and road […]

Maharlika bill FoI safeguards seen as inadequate

THE Maharlika Investment Fund (MIF) bill is suffering from a lack of public consultation, with transparency safeguards like the obligation to respond to Freedom of Information (FoI) requests deemed insufficient for achieving transparency, a non-government organization said. David Michael M. San Juan, convener of the Professionals for a Progressive Economy, added that public consultations on […]