NATIONAL Treasurer Rosalia V. De Leon has joined the calls to scrutinize the proposed Maharlika Wealth Fund while pointing out that the current version of the fiscal measure already has numerous safety measures to ensure prudent use of national government’s coffers.
De Leon enumerated eight safety measures found in the current version of the MWF bill that includes the “strict” adherence to the Santiago Principles and the provision that the fund shall be governed by all applicable government laws, rules and regulations. The Advisory Board will be composed of the Secretary of Finance, the Secretary of Budget and Management, the Treasurer of the Philippines and the Socioeconomic Planning Secretary and Director-General of the National Economic and Development Authority .
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Maharlika fund bill has 8 safeguards to ensure integrity, says nat’l treasurer"We support the calls to study the bill to ensure that risk management is in place," National Treasurer Rosalia de Leon said in a statement. "Upon reading the bill, we note that there are already eight measures that will safeguard the integrity of the Fund,” she added. 'Upon reading the bill, we note that there are already eight measures that will safeguard the integrity of the Fund,” she added.
Source: gmanews - 🏆 11. / 68 Read more »
[OPINION] Maharlika Wealth Fund: A serious 'trigger warning'Given the wealth funds’ current form of diverting the people’s pension funds, this axiom alone should serve as a strong trigger warning. | via philstarlife philstarlife NoToMaharlikaFund
Source: PhilippineStar - 🏆 7. / 71 Read more »
GSIS chief says Maharlika Wealth Fund a long-term investmentGSIS president and General Manager Arnulfo 'Wick' Veloso on Tuesday branded the proposed Maharlika Wealth Fund as a 'long-term investment.' Veloso said this would contribute to the goal of the Marcos administration towards nation-building. invest it where? Nation-building? Baka personal bank account building. Ano ba yan!
Source: gmanews - 🏆 11. / 68 Read more »
Diokno allays concerns over P275-b Maharlika Wealth Fund“There will be an internal audit as well as external audit, not to mention the oversight committee of Congress… Let us have trust in ourselves… We are an open society, and we are not like other countries,” Diokno said during an interagency Dev-- READ:
Source: MlaStandard - 🏆 20. / 55 Read more »
Maharlika Investment Fund money must come from ‘wealth tax’ – groupA progressive group is seeing no problem with the proposed sovereign wealth fund or Maharlika Investment Fund if the money for it would come from a wealth tax and not from income generated by state-owned insurers. | GabrielLaluINQ GabrielLaluINQ no problem at all. citizens needs transparency where it's going. because when the tangapwets took over Yellow pocketed all the money and made Ayala, Villar and other corrupt fools who took advantage of the chaos GabrielLaluINQ Wealth tax + Collection of overdue taxes = enough money to start multiple SWFs
Source: inquirerdotnet - 🏆 3. / 86 Read more »
[ANALYSIS] On the Maharlika Wealth Fund'The reality is, the Philippines has presently no surplus funds to establish a true sovereign wealth fund.... The MWF is just masquerading as a sovereign wealth fund, which means the Philippines is a poor country pretending to be rich.' Analysis READ: No surprise there....🫤🫤🫤🫤 Congress: stop this madness now please. Why take money from general accounts to invest only to replace it with borrowed funds to finance government operations and programs? Makes no sense. Find something else to do, like legislating a debt ceiling.
Source: rapplerdotcom - 🏆 4. / 86 Read more »