Senator Mark Villar, the sponsor of the Maharlika Investment Fund bill, on Thursday said the proposed measure’s implementing rules and regulations will provide clarity on who can really put money in the controversial fund.“I would not say there is a disconnect. I think it’s just, IRR and I’m sure once that happens that we have an IRR, things will become much clearer.”
The bill has received criticisms from concerned groups and the public after its initial version included agencies like Government Service Insurance System and Social Security System as sources for the Maharlika fund’s ₱125-billion seed money. “As far as the law is concerned, it’s clear, it says there in the law that those SSS, GSIS, PhilHealth , Pag-IBIG, OWWA , and Philippine Veterans [Affairs Office] are absolutely prohibited whether mandatory or voluntary,” Villar said.
Source: News Formal (newsformal.com)
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