THE Maharlika Investment Fund (MIF) has been approved on Thursday night by members of the House of Representatives on third and final reading.
House Bill 6608 received 279 yes votes, — almost 90% of its members — six no votes, and zero abstention.
President Ferdinand Marcos Jr. has certified the measure as urgent, paving for the way for its second and third reading approvals on the same day.
His message was read during the House’s plenary session, a development that came just a few minutes after the House approved House Bill 6608 on second reading via voice vote.
Marcos while on his way to Brussels to attend the ASEAN-EU Commemorative Summit indicated that the Maharlika sovereign wealth fund was advantageous for the country.
“For sure. I wouldn’t have brought it up otherwise,” Marcos told reporters on the plane bound for Brussels.
The MIF bill seeks to maximize the investible funds of state-run financial institutions and ultimately increase public funds for nation-building.
