Labor group stages protest vs sovereign wealth fund - BusinessWorld Online

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A labor group on Wednesday staged a protest against a proposal to establish a sovereign wealth fund, which would source capital from state-run pension funds. READ:

The Bukluran ng Manggagawang Pilipino , in a statement, said the government should not gamble funds meant to benefit both private and public sector workers, including minimum-wage earners.s funds came from the blood, sweat and tears of millions of workers, and we are worried this will be wasted through the Maharlika Investment Fund,” BMP Chairperson Leodegario “Ka Leody” de Guzman was quoted as saying during the demonstration held in front of the SSS main office in Quezon City.

He said the government should instead focus on helping micro, small, and medium enterprises and developing local businesses.

 

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