Marcos set to sign Maharlika bill on July 18 —Zubiri

President Ferdinand “Bongbong” Marcos Jr. is scheduled to sign the Maharlika Investment Fund (MIF) bill into law on July 18, Senate President Juan Miguel Zubiri said Wednesday.

In a text message to reporters, Zubiri said Marcos will sign the MIF bill along with the bill extending the availment period of Estate Tax Amnesty.

GMA News Online has reached out to Malacañang for confirmation, but it has yet to respond as of posting time.

The Presidential Communications Office last week said Malacañang has already received the MIF bill.

The MIF bill seeks to tap state assets for investment ventures in hopes of generating additional public funds.

Marcos, who had certified the bill as urgent, earlier stressed that the MIF would be independent from the government once established through law.

He also previously said he would sign the proposed measure as soon as he gets it.

“I will sign it as soon as I get it,” Marcos said in a previous interview with reporters.

“Even I proposed to the House was to remove the President as part of the Board, to remove the central bank chairman, to remove the Department of Finance, because it has to operate as an independent fund, well-managed professionally,” Marcos had said.

The President had said decisions in relation to this fund should not be linked to politics.

Budget Secretary Amenah Pangandaman earlier said that the economic managers are urging Marcos to sign the bill before his second State of the Nation Address on July 24.

Meanwhile, a survey conducted by the Social Weather Station (SWS) in March said Filipinos are split on the amount of benefit they may get from MIF.

According to the survey, 51% expected little or no benefit from the sovereign wealth fund. This percentage is made up 37% who see little benefit and 14% who see almost no benefit at all.

Forty-six perecent expect much benefit from the MIF: 32% who expect much benefit and 15% who see very much benefit.

The survey found that 20% have at least partial but sufficient knowledge about the MIF. —Hana Bordey/KBK, GMA Integrated News