President Ferdinand Marcos Jr. said on Thursday, June 22, that he will immediately sign the Maharlika Investment Fund (MIF) bill once the measure reaches his table.
However, President Marcos also assured that he will look into the changes introduced by the Senate and the House of Representatives.
"I will sign it as soon as I get it. Am I happy? Well, that is the version that the House and the Senate has passed, and we will certainly look into all of the changes that have been made," President Marcos told reporters at the headquarters of the Securities and Exchange Commission in Makati City.
"I think most of the changes that were proposed and that were eventually adopted really had to do with the safety and the security of people’s pension funds. Doon nag-alala ang tao," the Chief Executive added.
President Marcos stressed that the success of the MIF will depend on the management of the fund.
"We’ve seen them happen before because the management chose for it to happen. Itong mga eskandalo na nakikita natin sa ibang lugar. On the other hand, we see examples of really successful funds and really the difference is the management," the President said.
"Kung talaga, kung mahina, kung corrupt ang ilagay mo diyan, corrupt talaga ‘yan. Mawawala ‘yung pera. Kung mahusay ang ilalagay mo diyan, lalaki at lalaki ‘yan at magagamit natin ‘yung pondong ‘yan," he remarked
The President said that the government must ensure the independence of the fund, and is 'professionally managed'.
"One of the elements that makes that happen is that there is a very clear independence from the day-to-day government function. Those decisions are not made by political decisions in government. The decisions made for the fund are made by finance professionals," President Marcos said.
Senate President Juan Miguel Zubiri signed the MIF bill on Wednesday, June 21, while in a working visit in Washington D.C., United States, and will now be transmitted to Malacañáng for President Marcos to sign the measure.
