Maharlika body to rely on PSE for investments — Romualdez
House Speaker Martin Romualdez—(File picture by GRIG C. MONTEGRANDE)
MANILA, Philippines — House Speaker Martin Romualdez disclosed that the upcoming corporation stemming from the Maharlika Investment Fund (MIF) would seek guidance from the Philippine Stock Exchange (PSE) in devising its investment strategies.
According to Romualdez, capital markets have a role in supporting the national development agenda.
“The corporation that will be created to manage the Maharlika Investment Fund will invariably look to the PSE in its search for blue chip investment opportunities, from which handsome dividends may be generated – dividends which shall be channeled to fund the government’s strategic social programs towards the achievement of the nation’s larger development goals,” said Romualdez in a statement.
The house leader made the remark after his cousin, President Ferdinand “Bongbong” Marcos Jr., wrote to Senate President Juan Miguel Zubiri certifying the senate bill on MIF as urgent.
READ: Bongbong Marcos certifies as urgent Maharlika fund bill in Senate
The House Speaker said a “compelling need” exists for a national investment fund to hasten infrastructure projects and stimulate the economy.
“I am glad to see that the people behind the PSE are not resting on your laurels and are still exercising your entrepreneurial mindset with this latest endeavor. I am certain that the PSE Events Hall will soon be the venue for many ground-breaking business offerings,” Speaker Romualdez said.
MIF had been met with much contention, with Senate Minority Leader Aquilino Pimentel III pointing out that the measure would take away the people’s power to scrutinize and identify where their money is going.
RELATED STORIES:
People can’t scrutinize Maharlika Fund – Pimentel
Opposition senators still hoping to block Maharlika Fund bill
