MANILA - Department of Finance (DOF) Secretary Benjamin Diokno puts to rest rumors suggesting he would be heading the Maharlika Investment Corporation (MIC), which will govern over the Maharlika Investment Fund (MIF).

There have been speculations that Diokno was being eyed by the Marcos administration to become the president and CEO of the MIC.

But in a chat with members of the media, Diokno insisted that he did not apply for the post or any of the positions available.

“I’m not being considered for that position. I don’t think I’m being (considered). Hindi ako nag-apply eh. You have to apply and the application process is done, closed na,” he said.

• Gov't gets several applications for potential Maharlika fund managers: DOF
• EXPLAINER: The Maharlika Investment Fund, as approved by Congress

Instead, Diokno will serve as ex-officio chairman of the MIF board given his role as DOF Secretary.

“I’m the chairman of the Maharlika board. That’s another position,” he said.

The application and nomination process for the top posts of the MIC closed on September 27. The positions to be filled up are president and CEO, two regular directors and three independent directors.

The advisory board, which consists of the secretaries of the Department of Budget and Management (DBM) and the National Economic and Development Authority and the national treasurer, is expected to submit a shortlist of the qualified candidates to President Ferdinand Marcos Jr. soon.

“The advisory body shall then transmit the final list of nominees to the President on or before October 12. After which, the President shall appoint the best and fittest candidates for the respective positions,” said Diokno.

In an interview with a local broadsheet over the weekend, DBM Secretary Amenah Pagdanganan said the shortlist will be sent to Marcos by Monday, October 2.

The country’s first sovereign wealth fund is expected to be fully operational by the end of the year. Diokno had said they would begin with organizational matters such as looking for an office and crafting a logo.

Asked if the fund would also commence market activities by year end, Diokno said that may happen by the first quarter of next year.

“Wala pa… Mga first quarter of next year, depende sa interest. Yun ang hinahanap ng mga investor ngayon e, yung mukha ng mga MIC tsaka yung strategy also. Saan niyo ba ilalagay yung pera?” he said.

So far, Landbank and the Development Bank of the Philippines have remitted to the Bureau of Treasury their respective contributions of P50 billion and P30 billion as initial capitalization for the fund.

The Bangko Sentral ng Pilipinas has also declared dividends of P31.86 billion in favor of the national government.

• Marcos says Maharlika fund may fail if politicians are involved
• Land Bank remits P50-billion contribution to Maharlika fund

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