LEADERS of the House of Representatives and economic managers have agreed to remove the Government Service Insurance System and Social Security System as fund contributors to the proposed Maharlika Wealth Fund and instead utilize profits of the Bangko Sentral ng Pilipinas .
Upon the Speaker’s instructions, Quimbo said the changes would be introduced into the bill on Friday.“The discussions on the amendments shall be taken up by the Committee on Appropriations on Friday upon the instruction of Speaker Romualdez,” she said. “It’s good we are holding a series of consultations on the bill; the apprehensions of our people, especially Filipino workers who make monthly contributions to GSIS and SSS, are addressed,” she added, partly in Filippino.
Under House Bill 6398, GSIS, SSS, Land Bank, the Development Bank of the Philippines, and the national government are mandated to invest equity with a combined total of P270 billion to start up the fund.
Source: Insurance Report (insurancereport.net)
invite na lang nila private funds
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