Senate minority: No Maharlika fund to 'soft launch' while bill still pending

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Photos shows of senators in opening of the 19th congress at the Senate on July 25, 2022.

STAR / Mong Pintolo

 

MANILA, Philippines — It would be premature to tout the proposed Maharlika Wealth Fund to potential investors at the World Economic Forum in Switzerland when legislation to create it has yet to be passed, the two-member Senate minority bloc said.

 

President Ferdinand "Bongbong" Marcos Jr. is in the resort town of Davos for the WEF, where the Department of Foreign Affairs said he is set to "soft launch", or introduce, the proposed wealth fund to world and business leaders.

 

"A soft launch is premature. There is nothing to present. The bill establishing such a sovereign wealth fund has not yet been deliberated at the Senate — isn't it jumping the gun to be talking about it in front of world economic leaders?," Sen. Risa Hontiveros said Monday. She added the president "might look like an amateur" if he discusses a fund that has yet to be created.

 

Full Story: https://www.philstar.com/headlines/2023/01/16/2238004/senate-minority-no-maharlika-fund-soft-launch-while-bill-still-pending

 

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