Photo Credit: CNN Philippines
PRESIDENT Ferdinand Marcos Jr. on Thursday is planning to sign the bill establishing the Maharlika Investment Fund as soon as it reaches his office.
“I will sign it as soon as I get it,” the Chief Executive said at the sidelines of the 85th anniversary celebration of the Securities and Exchange Commission in Makati City.
He also assured to “certainly look into all of the changes that have been made” to ensure the “safety and the security of people’s pension funds.”
“The secret to its success is who we put in management. What is their experience? What is their reputation? What is their success rate? And we have quite a few good money managers, financial managers that we can call upon,” he said.
“The only way that the fund doesn’t get into trouble, is if it’s well and professionally managed. And so, 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,” he added.
The MIF, Malacañang had said, is part of the Marcos administration’s Medium-Term Fiscal Framework, 8-Point Socioeconomic Agenda and Philippine Development Plan 2023-2028 which are all instruments in pursuing the country’s economic transformation. — Kristina Maralit
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