The National Economic Development Authority (NEDA) Secretary Arsenio Balisacan on Friday expressed confidence that the absolute ban on state pension funds would not impede the proposed Maharlika Investment Fund from achieving its true purpose.

“You know, the President certified the passage of the Maharlika. And, I think that the amendments or the improvement of the final provisions, we can leave it to the House. They are in general quite good provisions, especially those that improved the governance of Maharlika, the safeguards, and so on,” Balisacan stated during a press briefing at the Palace.

“Those are very useful at least, in our point of view, and clarifying what can be used, what cannot be used, I think those are good. I don't see those as kind of a roadblock to achieving the intention, the objective of the Maharlika,“ he further commented.

President Marcos has assured that the national government has no plans to utilize state pension funds as a "seed fund" for the proposed MIF.

During a bicameral conference committee meeting on Wednesday, the House of Representatives adopted the Senate's version of the Maharlika bill.

According to the bill, the Maharlika Investment Fund (MIF) will be established using funds sourced from the Land Bank of the Philippines (LBP), which will contribute P50 billion, the Development Bank of the Philippines (DBP), which will contribute P25 billion, and the National Government, which will contribute P50 billion.

The national government's contribution will come from various sources, including the total declared dividends from the Bangko Sentral ng Pilipinas, the income share of the national government from the Philippine Amusement and Gaming Corporation (PAGCOR), properties (both real and personal) identified by the Department of Finance's Privatization and Management Office, as well as other sources such as royalties and special assessments.