Senator Imee Marcos on Monday expressed her worries over the bill seeking to create a Maharlika Investment Fund (MIF), which was recently certified as urgent by her brother President Ferdinand 'Bongbong' Marcos Jr.
In an ambush interview with reporters, Marcos said she is not keen on hurdling the passing of the MIF bill as this may put the country in debt.
"Our children will be burried in debt. Hindi dapat minamadali 'yung ganyan," she added.
According to the Senator, her main concern is the source of the MIF.
"Kasi ang pagkakaintindi ko, nagkakaroon ng sovereign fund kapag nagka-jackpot ang isang bansa. Halimbawa, 'yung Malampaya [Gas Project], nagkaroon tayo ng natural gas. Sana noon, nagkaroon tayo ng sovereign fund," she said.
"When you get a windfall, that's usually the beginning of a sovereign fund," Marcos added.
The Senator said she does not feel any "windfall" in the proposed measure but rather she feels that it will only bring "debt".
Marcos further questioned the purpose of the MIF.
"Saan ilalaan kasi sinasabi, infrastruture, eh nagagawa naman iyon ng bangko. Sinasabi, legacy at agriculture, nagagawa naman ng NIA [National Irrigation Administration] iyon at saka nangungutang naman tayo para diyan. Ano yung value added?" she pointed out.
In December last year, Congress swiftly passed House Bill No. 6398 on its third and final reading after President Marcos certified the bill as urgent.
Last week, May 22, the chief executive also certified the immediate enactment of Senate Bill 2020 or An Act Establishing the Maharlika Investment Fund.
Senate President Juan Miguel 'Migz' Zubiri earlier said that the MIF bill is among the priority bills they target to pass before the 19th Congress adjourns on June 2.
