STATE-run pension funds SSS and GSIS will no longer be fund sources in the proposed Maharlika sovereign wealth fund, said Marikina Second District Rep. Stella Quimbo.
House leaders led by Speaker Martin Romualdez, on Wednesday, met with the economic managers to reassess the Maharlika Fund bill.
In a statement, Quimbo said “Based on our assessment of the proposed changes put forward by the economic team, we are amending the bill to change the fund sources, removing GSIS and SSS as fund contributors and instead utilize profits of the Bangko Sentral ng Pilipinas.”
Quimbo said the discussions on the amendments will be taken up by the Committee on Appropriations on Friday, Dec. 9.
“As we tackle the bill, we will put in place safety nets that will be the success of this project,” she said.
“Dapat masiguro na ang batas na maglilikha ng Maharlika Fund ay mayroong katapat na probisyon na magtatakda sa pangangalaga ng pondo ng bayan,” the lawmaker added.
