President Ferdinand Marcos Jr, Senate President Juan Miguel Zubiri, House Speaker Ferdinand Martin Romualdez and Senator Mark Villar during the signing of the Maharlika Investment Fund bill. - PDI FILE PHOTO
MANILA (Philippine Daily Inquirer/Asia News Network): President Ferdinand Marcos Jr on Thursday (Oct 19) said that the Maharlika Investment Fund will push through.
During his pre-departure flight speech to Saudi Arabia, Marcos said that he was surprised by reports of the Maharlika suspension.
“I was a bit alarmed by the news reports early this morning that I read in the newspapers that we have put the Maharlika Fund on hold. Quite the contrary. We are, the organisation of the Maharlika Fund proceeds apace, and what I have done though, is that we have found more improvements we can make,” said Marcos in his speech.
“We are still committed to having it operational by the end of the year,” he added.
This is despite the fact that the memorandum sent to banks suspending the implementing rules and regulations was released through the office of the President, by the authority of Marcos.
Marcos also said that the Maharlika investment fund remains to be a good concept.
“We should not misinterpret what we have done as somehow, as a judgment of the rightness or wrongness of the Maharlika fund. On the contrary, we are just finding ways to make it as close to perfect and ideal as possible, and that is what we have done,” said Marcos.
According to the President, the Maharlika Investment Fund’s implementing rules and regulations have undergone consultation with the economic managers and involved personalities.
