8.6 pct Maharlika equity return 'difficult': Pimentel


Posted at Jun 05 2023 12:24 PM | Updated as of Jun 05 2023 12:42 PM


MANILA — Senate Minority Leader Koko Pimentel on Monday countered Sen. Mark Villar's projection that the proposed Maharlika Investment Fund would generate a possible 8.6 percent return on equity annually.

Speaking to ANC, he said an 8.6 percent return would be tough to achieve as the world faces a difficult economic situation.

"That projection of 8.6 [percent], sabi ko nga, that's a very brave and positive projection but that still remains a projection and the world economy is in a bad shape," he told "Headstart".

Pimentel noted that the manager of Norway's sovereign wealth fund said that "in the next 10 years it is very, very difficult to generate that returns".

"How much will we spend in hiring the different kinds of experts and their support staff so that we will be able to successfully generate returns in a very difficult world economic situation?" he added.

Pimentel previously urged President Ferdinand Marcos Jr. to veto the proposal and give Congress more time to scrutinize the MIF.

The bill now only needs Marcos' signature to become law.
The country's economic managers have insisted the MIF would greatly benefit the Philippine economy.

They have asserted the MIF would provide government with a longtime source of income and ease the burden of the national government by providing additional funding for priority projects.

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