Speaker Martin Romualdez delivers his speech before the members of the Philippine Chamber of Commerce and Industry on Thursday, August 4, 2022. (Photo from Speaker Ferdinand Martin Romualdez’ office)
MANILA, Philippines — Speaker Martin Romualdez on Monday upheld that the country is “on the right track” in passing the Maharlika Investment Fund (MIF) after a survey from research firm Tangere showed that half of Filipinos support the controversial bill.
“We are happy with the survey, which to us means that we are on the right track in advocating the establishment of this sovereign wealth fund, which is intended to benefit future generations of Filipinos,” Romualdez said.
“It shows that our advocacy has the support not just of major business groups but of the general population as well,” he added.
Romualdez is the principal author of House Bill (HB) No. 6608, which seeks to establish the MIF. The House of Representatives passed it on final reading on Dec. 15.
READ: House passes Maharlika Investment Fund bill
The said survey, released on Monday but conducted on December 8 to 10, had 2,400 respondents. Their ages were not stated, but 2,010 (or 83.75%) said they knew the bill.
Twelve percent of the respondents were from Metro Manila, 23%t from North and Central Luzon, 22% from South Luzon, 20% from Visayas, and 23% from Mindanao. It had a margin of error of 2.191%.
According to Martin Peñaflor, CEO and founder of Tangere, of those aware of the MIF, 54.08% either “strongly supported” (21.84 percent) or “somewhat supported” (32.24%) the bill’s passage into law, while 21.34% were “neutral” and 24.58% either “somewhat or strongly opposed the measure.”
However, Peñaflor also revealed that only 45.87% support making government financial institutions such as GSIS, SSS, Landbank and DBP as sources for the funds for the MIF, with 19.50% strongly agreeing and 26.37% slightly agreeing.
Meanwhile, 6 out of 10 of those aware of the MIF bill said they support making President Ferdinand “Bongbong” Marcos Jr. head of the management of MIF — once it is established into law.
Regarding corruption, 22.39% “strongly believe” while 27.01% “somewhat believe” that the said establishment of funds can be safeguarded from corruption.
Meanwhile, 65.47% of the survey respondents said that the proposal of the establishment of the funds is timely.
According to Romualdez, the Philippine Stock Exchange (PSE) has also expressed its support for the said bill.