Hontiveros: Gov’t must pass urgent measures to lower food prices instead of Maharlika Investment Fund

Senator Risa Hontiveros (Bibo Nueva España/Senate PRIB)

MANILA, Philippines — Opposition Senator Risa Hontiveros on Friday said the government should certify as urgent a measure that would lower food prices instead of the Maharlika Investment Fund.

“Certify urgent? Eh kung ang gawin munang urgent kaya ay ang pag baba ng presyo ng pagkain para may disenteng Noche Buena, ang pagtaas ng sweldo ng mga manggagawa lalo ang mga teacher at health workers, at ang ayuda sa matatanda, solo parents at mga may kapansanan?” Hontiveros said in a statement.

(Why don’t we make urgent the lowering of food prices so people would have a decent Noche Buena, the salary increase for workers, especially teachers and health workers, and the cash aid for the elderly, solo parents, and the disabled?)

President Ferdinand, “Bongbong” Marcos Jr., certified the passage of the sovereign wealth fund as urgent, according to the House of Representatives.

On Thursday, House Bill (HB) No. 6608 was approved, with 279 lawmakers voting affirmative while six voted against it. No legislator abstained from the voting.

Hontiveros said the measure “is premature and a misplaced priority.”

“Our economy is already hurting now; imagine the world of pain we’ll be in if we rush head first into a P250 billion mistake,” the senator said, referring to the venture capital of the sovereign wealth fund that would be derived from government agencies and state-owned corporations.

JMS