Maharlika Investment Fund is harmful not beneficial –Pimentel

Senate Minority Leader Aquilino "Koko" Pimentel on Saturday said he would oppose the certification of the Maharlika Investment Fund (MIF) bill, which he believed was more "harmful than beneficial" to Filipinos.

"Maraming bills ang naipasa sa past weeks, 'di naman nila masasabi tayong humahadlang sa mga panukalang batas na ina-aprub. Pero itong Maharlika perwisyo hindi benepisyo," Pimentel said in a radio interview.

(Many bills have been passed in the past weeks, they cannot say that we are obstructing the approval of bills. But Maharlika, it is harmful, not a benefit.)

He added that he would do everything he could to oppose the bill but would still follow the rules.

Pimentel said the bill was not urgent and the idea was "completely wrong." He mentioned that in Norway, the government discussed the concept for 12 years and consulted everyone without rushing.

“May windfall revenue ba or profit, wala rin naman. So wala talagang dahilan na pumasok tayo sa usaping ito o konseptong ito. Di na natin alam saan paroroon tapos minamadali pa natin so yun ang pinakamalaking mali,” he said.

(Is there any windfall revenue or profit? No. So there is really no reason for us to get into this matter or this concept. We don't know where we are going. And yet we rush things. So that's a big mistake.)

Pimentel added that the Maharlika Investment Fund had entered the period of interpellation, and this was the opportunity for the Senate minority to change the minds of other Senators.

“Sana, yun ang ipinagdarasal namin sa minority. Best effort na ito. Pakita natin dahilan kung bakit 'di dapat suportahan ito, maka-convert pa tayo ng ating mga kasama sa Senado," he said.

(Hopefully, that's what we're praying for in the minority. This will be our best effort to show why we shouldn't support it so we can convert our colleagues in the Senate.) — DVM, GMA Integrated News