Malacañang stated on Wednesday that it has received the proposed Maharlika Investment Fund bill.

According to Presidential Communications Office (PCO) Secretary Cheloy Garafil, the proposed bill was received by the Office of the Deputy Executive Secretary for Legal Affairs on Tuesday.

There is no word yet from the Palace on when President Ferdinand Marcos Jr. will sign the bill.

Marcos, who approved the MIF bill as urgent, previously stated that the MIF, once constituted by law, would be independent of the government.

Meanwhile, the MIF bill aims to use state assets for investment projects with the intention of raising more public money.