Anti-poverty commission backs Maharlika Investment Fund

The state-run National Anti Poverty Commission (NAPC) threw its support behind the passage of the Maharlika Investment Fund Bill which seeks to use government assets for investment.

NAPC Vice Chairperson and South Cotabato Governor Reynaldo Tamayo Jr. clarified the commission's position a day after Senate President Juan Miguel Zubiri called on his House of Representatives counterparts to adopt the Senate version of the measure, given that President Ferdinand Marcos Jr. certified the bill as urgent.

A bill certified as urgent allows Congress to approve it on second reading (voice vote) and third reading (nominal voting) on the same day.

“The Maharlika Fund [bill] was certified urgent because the Executive sees this as something that will help the economy and generate funding for the government,” Tamayo said in a press conference.

“This funding will be used for the government’s anti-poverty programs, including that of the NAPC,” Tamayo added.

The House approved the Maharlika Investment Fund Bill on third and final reading, but its version differed from that of the Senate as the House excluded pension funds as a source for the investment fund.

Despite the President’s urgent certification on the measure, House Assistant Minority Leader Arlene Brosas argued that the bill, which she said favors foreigners, was not as urgent as wage hike bills. — DVM, GMA Integrated News