PhilHealth charter does not allow investment in proposed Maharlika Fund: CEO

Vivienne Gulla, ABS-CBN News

Posted at Feb 15 2023 08:08 PM

MANILA — The current charter of the Philippine Health Insurance Corporation (PhilHealth) will not allow it to invest in the proposed Maharlika Investment Fund (MIF), according to its president and chief executive officer (CEO) Emmanuel Ledesma, Jr.

The bill on MIF approved on third and final reading by the House of Representatives proposes that apart from government financial institutions, government owned or controlled corporations may also be authorized to contribute to the Maharlika Investment Fund.

"For now, it is very clear in the charter, it is not allowed, so we’re not considering, we’re not open to it,” Ledesma said.

But should a law be passed amending the PhilHealth charter, and allowing to invest in the MIF, Ledesma said the PhilHealth Board and senior officers will study the matter.

“We would review it as a team, we would take it up with the board, review it with the senior officers and if it will help the country, it well help PhilHealth, we’re open. But we will study it thoroughly,” he said.

The Senate is currently holding hearings on the proposed MIF, which is among the priority bills of the Marcos administration.