Malacañang receives Maharlika Investment Fund bill: Garafil | ABS-CBN

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Malacañang receives Maharlika Investment Fund bill: Garafil

Malacañang receives Maharlika Investment Fund bill: Garafil

Job Manahan,

ABS-CBN News

 | 

Updated Jul 05, 2023 02:39 PM PHT

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President Ferdinand Marcos, Jr. meets with cabinet secretaries during a sectoral meeting at the Malacanang Palace in Manila on July 4, 2023. Jonathan Cellona, ABS-CBN News/ PPA pool
President Ferdinand Marcos, Jr. meets with cabinet secretaries during a sectoral meeting at the Malacanang Palace in Manila on July 4, 2023. Jonathan Cellona, ABS-CBN News/ PPA pool


MANILA — Malacañang on Wednesday said they have finally received the bill forming the Maharlika Investment Fund, which President Ferdinand Marcos, Jr. vowed to sign immediately.

Press Secretary Cheloy Garafil said in a Viber message this was received Tuesday by the Office of the Deputy Executive Secretary for Legal Affairs.

This comes after Senate President Juan Miguel Zubiri said the controversial bill has been sent to the Office of the President on Tuesday, following the signature of House Speaker Martin Romualdez.

The bill, certified urgent by Marcos, was not immediately sent to Malacañang after lawmakers found out that it had 2 provisions on the prescriptive period for crimes.

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Marcos earlier said he would sign the proposed law creating the Maharlika Investment Fund when it reaches his office.

But the President said he would still need to look into the changes made in the Congress' approved version of the proposed sovereign fund, which he said should be independent of the government to become successful.

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