Atin Ito First Filipino Community Newspaper in Ontario
PRESIDENT Ferdinand Marcos Jr. on Wednesday assured the public that the government has no intention of using state pension funds as seed funds for the proposed Maharlika Investment Fund (MIF).
Marcos expressed agreement on one of the amendments to the bill that prohibits the use of funds of the Government Service Insurance System (GSIS), Social Security System, Philippine Health Insurance corporation, among others in the proposed sovereign wealth fund.
“I perfectly agree. We have no intention of using… kukuha tayo ng pera ng (getting money from the) pension fund. That’s not it’s a – okay… We will not use it as a seed fund,” Marcos said during a media interview on the sidelines of the 86th anniversary celebration of the GSIS on Wednesday.
The President, however, said pension funds themselves could invest in the proposed sovereign wealth fund if they think it is “good investment.” — Catherine S. Valente
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