AFTER almost 12 hours in plenary, the Senate of the Philippines approved on third reading Senate Bill 2020 proposing the establishment of the Maharlika Investment Fund at 2:30am on May 31, 2023.
The bill is set to be taken up by the bicameral conference committee in the morning of May 31 and is up for ratification by the House of Representatives and the Senate in the afternoon.
“The economic team commends Senate President Migz Zubiri and Senator Mark Villar for their thorough deliberation and prioritization of the proposed Maharlika Investment Fund Act.
The Senate leadership has pulled out all the stops to ensure that the bill we bring to the President reflects the administration’s objective of creating a profitable and secure investment fund,” Finance Secretary Benjamin E. Diokno said.
Diokno, Executive Secretary Lucas P. Bersamin, Department of Budget and Management Secretary Amenah F. Pangandaman, National Economic and Development Authority Secretary Arsenio M. Balisacan, and Bangko Sentral ng Pilipinas Governor Felipe M. Medalla were present during the extended session in support of the bill’s immediate passage.
metrosundaily
