THE central bank said its plan to build up capital to P200 billion could be delayed if legislation obliges it to supply seed capital to the proposed Maharlika Investment Fund (MIF). Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr. told the Senate banking committee, which is evaluating a bill setting up the […]
Tag: maharlika
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 […]
Agriculture industry lobbies for ‘mandatory’ Maharlika allocation
THE AGRICULTURE industry said it is hoping to capture as much as 30% of the proposed sovereign wealth fund’s investable capital, saying that the wealth fund will draw away funding from the farm sector. Danilo V. Fausto, president of the Philippine Chamber of Agriculture and Food, Inc. (PCAFI), told reporters Friday, “We demand a mandatory […]
House approves Maharlika Fund bill
THE HOUSE of Representatives approved on third and final reading the bill creating the Maharlika Investment Fund (MIF), just over two weeks after it was filed by Speaker Ferdinand Martin G. Romualdez. At Thursday’s session, 279 lawmakers voted in favor of the MIF bill, while six voted against. The six lawmakers who opposed the measure […]
Editorial: Maharlika Wealth Fund: A risky proposal
Lawmakers from the House of Representatives who authored the proposed P275-billion Maharlika Wealth Fund have changed tune—they have decided to remove the Social Security System (SSS) and the Government Service Insurance System (GSIS) as funding sources in the bill. This came after the bill attracted criticisms, specifically from SSS and GSIS pensioners who said they […]
Cebu FC beats Maharlika FC, moves up to 3rd in PFL
CEBU FC captured its second win in the 2022 Philippines Football League (PFL) after a dominant 5-1 victory over Maharlika Manila FC on Sept. 10 at the Philippine Football Federation (PFF) National Training Center in Carmona, Cavite.After being down 1-0, Cebu FC scored the equalizer with a goal by Chima Uzoka in the 27th minute.Arda […]
Maharlika Manila beats Mendiola FC in Copa
MAHARLIKA Manila FC bounced from its season opener loss with a come-from-behind 2-1 win over Mendiola FC 1991 in the 2022 Copa Paulino Alcantara on March 21 at the Philippine Football Federation (PFF) Training Center in Carmona, Cavite.Maharlika FC kicked off the tournament with a 1-0 loss to defending champion Kaya FC-Iloilo on March 15.In […]
Kaya FC beats Maharlika in Copa season opener
KAYA FC-Iloilo is off to hot start in its Philippines Football League (PFL) Copa Paulino Alcantara title defense after a 1-0 win over Maharlika Manila FC in the 2022 season opener on March 14 at the Philippine Football Federation (PFF) National Training Center in Carmona, Cavite.Japanese striker Daizo Horikoshi scored the match’s lone goal in […]