Finance Secretary Benjamin Diokno defended Friday the proposed Maharlika Wealth Fund, saying it has transparency and accountability safeguard to prevent it from suffering the same fate as Malaysia’ corruption-riddled 1Malaysia Development Berhad .
“There are many layers of audits, we have an internal auditor, we have an international auditor, and then we have COA ,” the Finance chief said. “We want to make sure that this is on the level, transparent, there’s accountability, there’s a published report, we submit a report to the President. And this will be published so we can be sure that the people would know where that money is going," he said.
"In a situation where high rewards are likely, we also need to manage risks. Ito naman ang dahilan kaya maraming safeguards sa batas. Natuto na tayo sa Malaysia kung saan isa lang ang signatory at sisiguraduhin natin na hindi tayo matutulad sa kanila [This is why we have many safeguards. We've learned from Malaysia which only had one signatory and we will make sure we won't go the same route]," the House leader said.
Diokno is joking knowing the fact that most if not all of our politicians are corrupt😃
amakana mr jokeno
The make PBBM settle his Family Tax Due & use this to Fund the MWF... if he does not ✋️ implementing this project.... Grrrrrrr
Promises
Wonder why this so-called financial guru is so confident of this fund when during Digong's time he didn't broach this subject matter?
Buti sana kung yan ang ehemplong ipinapakita sa senate budget hearings... Hindi eh. We cannot trust the government's words when its actions contradict its pronouncements. 🙄
safeguard is never safe from the guards. accountability is just a word you can't count on. and transparency comes with confidentiality.
Why, in the first place, will it be headed by someone who has no moral ascendacy when it comes to paying/remitting taxes
LOL, transparency does not even exist in the government’s vocabulary.
Ano nga ang importansya ng Maharlika Wealth Fund.... para matuloy ang hindi nalutas ng paglalaba ng pera or para madugtungan. Para happy ang nasa position. YON ba
Whatever🙄 Still no assurance that our pension money will be protected. graft corruption ItsMoreFUNDinthePhilippines
worse yan than 1MDB
It will be worst 🤣🤣🤣🤣🤣🤣
That's what 1MDB said too
Sure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DOF's Diokno: SSS, GSIS can still contribute to Maharlika FundState-run pension funds Social Security System (SSS) and Government Service Insurance System (GSIS), which were removed as mandatory contributors to the Maharlika Wealth Fund, can still invest in the proposed sovereign wealth fund should they seek higher yields for their investible funds or assets, Finance Secretary Benjamin Diokno said Friday. Huwag kukurap mga members ng GSIS at SSS. Nagpapahiwatig na sila. Ibig sabihin kunyari lang pero itutuloy din yan pag napunta na sa iba ang attention ng tao.
Source: gmanews - 🏆 11. / 68 Read more »
Sovereign Wealth Fund: 'Don't involve BSP in setting up of Maharlika Fund'The proposed Maharlika Wealth Fund (MWF) continues to be saddled with governance “red flags” even after the withdrawal of the Government Service Insurance System (GSIS) and Social Security System (SSS) as chief funders. Filomeno S. Sta. Ana III, co-founder and coordinator of the Action for Economic Reforms think tank, said that the Philippines currently isn’t suited for a sovereign wealth fund. Read the related story: So because of volatility in the market you suggest to trade fund in a conservative trade.low risk low return . High risk high return.
Source: bworldph - 🏆 9. / 68 Read more »
INQToday: Proposed Maharlika Fund would no longer include SSS, GSIS funds — QuimboProposed Maharlika Fund would no longer include SSS, GSIS fund — Quimbo
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 »
Even without SSS, GSIS funds in Maharlika Fund, public must be vigilant — CastroRep. France Castro said that while the SSS and the GSIS have been removed from the proposed Maharlika fund, people must remember that taxpayers’ money is still part of it — or the P25 billion from the national budget. | GabrielLaluINQ GabrielLaluINQ NotoMaharlikaFund Alam niyo mga natalo itong mga araneta roxas arroyo ayala lopez villar at marcoses sa legal battle nila sa court laban sa tinawag nilang maharlikans. They have no legitimate properties in this country if the law is truly enforced. They want to paint a bad image of the name. Haha Ang pera ng bayan Huwag ninyong paglaruan.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
GSIS, SSS dropped as mandatory sources of capital for Maharlika FundAuthors of the proposed Maharlika Wealth Fund (MWF) have dropped state pension fund repositories Government Service Insurance System (GSIS) and Social Security System (SSS) as mandatory contributors to the proposed sovereign wealth fund, House appropriations panel senior vice chairperson Stella Quimbo of Marikina City said Wednesday. CASINOS Sige lang mga tigulang na bitaw na ONE way of family planning lessens Ilagay nyo savings from executive legislative at judiciary. Kung naniniwala kayong kikita Yan isugal nyo mga savings Ng legislative.
Source: gmanews - 🏆 11. / 68 Read more »