GSIS to invest in infra fund

by Willard Cheng, ABS-CBN News

Posted at May 28 2012 12:27 PM | Updated as of May 29 2012 01:14 AM

MANILA, Philippines - President Aquino announced the creation of a P25 billion infrastructure fund, called the Philippine Investment Alliance for Infrastructure or PInAI, where the Government Service Insurance System (GSIS) will be the lead investor.
The President said that the financing of infrastructure projects under the fund will create more jobs. The PInAI, which will be launched in July, will be managed by investment manager Macquarie Infrastructure and Real Assets (MIRA). The GSIS expects that returns on investments will benefit members and pensioners.
“Sa Hulyo nga po ay ilulunsad na ang Philippine Investment Alliance for Infrastructure o PInAI. Dalawampu’t limang bilyong pisong pondo po ang nakataya rito; ito ang pinakamalaking pondong ilalaan para sa imprastraktura sa bansa. Ang GSIS ang nanguna sa pagtataguyod ng pondong ito na pangangasiwaan naman ng Macquarie Group.  Bukod sa ihahatid nitong serbisyo, magbubunsod pa ito ng lalo pang pagginhawa ng ekonomiya, at manganganak ng maraming trabaho,” President Aquino said in his speech during the 75th founding anniversary celebration of the GSIS.
Areas of investments under the PInAI include transportation, energy, power, water, environment, communications and other public-private partnership projects.
Senate President Juan Ponce Enrile was invited to the event and was supposed to be part of the party that will welcome the President upon his arrival. But Enrile did not come and only House Speaker Feliciano Belmonte, Jr. was present.
The GSIS also launched its new logo and slogan, “Maaasahan ng Lingkod Bayan.”

In an ad-lib, the President said that upon his retirement in 2016, he will not receive full pension since by that time, he would have served in government for only 18.6 years, short of the minimum requirement of 20 years. He jestingly said that he finds comfort from the fact that Budget Secretary Butch Abad will be joining him since Abad would have only served 19 ½ years in government by 2016.