Veto Maharlika bill, return it to Congress to fix potential pitfalls, Pimentel presses Marcos

Senate minority leader Aquilino “Koko” Pimentel III describes the Maharlika Investment Fund (MIF) bill outrageous and asks President Bongbong Marcos to veo it for review by Congress. (Joseph B. Vidal/Senate PRIB)

MANILA, Philippines —  Senate minority leader  Aquilino Pimentel III on Friday urged President Ferdinand Marcos Jr. to veto the Maharlika Investment Fund (MIF) bill and return it to Congress and give lawmakers more time to address the concerns surrounding it, while Senator Escudero deemed it a risky venture into the unknown.

“The bill, in its current form, is not acceptable. I am calling on the President to exercise his veto power and return the measure to Congress,” Pimentel said in a statement.

Pimentel added that “it is in the best interest of the Filipino people and the administration if the measure is sent back to Congress, so we will have the chance to take a second look at the measure to address the concerns raised by many sectors.”

Citing Sen. Francis Escudero, Pimentel said the bill’s flaws result from haste and ill-conceived legislation.

Escudero has previously described the MIF as a “leap of faith to the great unknown.”

Pimentel also said that its current form, the MIF, could not withstand the judgment of the Supreme Court.

He had previously said the Supreme Court may be the next battleground for the MIF bill. <

“The MIF can be challenged before the courts, and for those planning to do this, I will make myself available as a source of some facts, information and arguments,” he reiterated. 

gsg/abc