Maharlika bill being reviewed by Marcos” economic team -Gatchalian

The economic team of President Ferdinand “Bongbong” Marcos Jr. is currently reviewing the Maharlika Investment Fund (MIF) bill to ensure its legality, Senator Sherwin Gatchalian said Tuesday.

After Senate President Juan Miguel Zubiri signed the ratified version of the bill, Gatchalian said it would go through the President’s economic team, including the Department of Finance and the Bangko Sentral ng Pilipinas, so it could be studied thoroughly.

“Ang normal process niyan, for example, kasi nakita ko na ito, pagtapos i-transmit ng Senado sa Palasyo, pinag-aaralan mabuti ‘yan ng team ng ating Pangulo,” Gatchalian said on Unang Balita.

(The normal process is after the Senate transmits it to the Palace, our President’s team studies it carefully.)

“Ngayon kung may rekomendasyon na ang economic team na pirmahan, pipirmahan ng Pangulo ‘yan. Nasa proseso sila ngayon ng pagre-review para sigurado na ang pipirmahan ng ating Pangulo ay legal at makakatulong sa ating bansa,” he added.

(If the economic team has a recommendation for the President to sign, he will sign it. They are now in the process of reviewing to make sure that what our President will sign is legal and will help our country.)

The MIF bill, which was certified urgent by Marcos, seeks the creation of a sovereign wealth fund that the government can use to make investments.

Last week, Marcos said he will immediately sign the MIF bill into law once it reaches his office, noting that management will be the key to its success.

Senate Minority Leader Aquilino “Koko” Pimentel III had warned Marcos against signing the MIF, saying there is a “high chance” that it is unconstitutional. –KBK, GMA Integrated News