Mark Villar sees swifter talks on Maharlika fund after meeting with economic managers

Several senators, led by Mark Villar, on Monday sat down with economic managers for a briefing on the Maharlika Investment Fund (MIF) bill.

The meeting came two days before the public hearing on the measure scheduled on February 1 at 10 a.m.

“Nagkaron na po kami ng briefing tungkol sa Maharlika bill at andun po lahat ng economic managers at na-clarify yung mga questions ng ating mga colleagues sa Senado,” Villar said.

Asked if the briefing will pave the way for smoother deliberations of the measure, he said, “Sa tingin ko, kasi maganda yung mga sagot ng ating mga managers and of course we were able to tackle a lot of issues.”

“Mahaba rin yung briefing and many senators attended. So, very productive and I look forward to hearing the bill on Wednesday,” he added.

The hearing will be jointly conducted by the committees on banks, financial institutions and currencies; government corporations and public enterprises; ways and means; and finance.

Villar authored Senate Bill No. 1670, which said the MIF would be a "powerful tool for sustaining high-impact infrastructure projects, urban and rural development, agricultural support, and other initiatives that would increase income and economic activity in the Philippines."

The measure proposed a Maharlika Investment Corporation, which would govern and manage the fund.

The House of Representatives earlier approved a similar bill on third reading.

Earlier, President Ferdinand “Bongbong” Marcos Jr. asked senators to carefully examine the initiative, which he had brandished before foreign audience in his recent Switzerland trip.—LDF, GMA Integrated News