(GRIG C. MONTEGRANDE / INQUIRER file photo)
MANILA, Philippines — Filipinos are divided on the Maharlika Investment Fund bill, but only a few have extensive knowledge about the proposal, according to a Social Weather Stations (SWS) survey result released on Thursday.
Based on the SWS survey conducted from March 26 to 29, only 20 percent of adult Filipinos have “at least partial but sufficient knowledge” about the Maharlika fund.
Despite the highly publicized legislative journey of the Maharlika fund bill, 33 percent said they have little knowledge, while 47 percent admitted to having “almost no knowledge or no knowledge at all” about the proposed measure.
When asked “how much will the Philippines benefit from the [Maharlika fund] in case it is developed,” 51 percent of Filipinos said they expect little to no benefit from the Maharlika fund – 37 percent see “little” benefit, while 14 percent think it will have “almost no benefit at all.”
SWS said 14 percent of Filipinos, on the other hand, expect “very much benefit” from the Maharlika fund, and 32 percent see “much benefit.”
According to the pollster, “net expected benefit from the [Maharlika fund] rises with knowledge about it.”
Filipinos were also split in their level of trust that the Maharlika fund will not result in corruption.
SWS found that only 10 percent of Filipinos have “very much confidence” in the controversial fund, and 22 percent have “much confidence.”
Around 38 percent, however, were undecided. Some 19 percent have “little confidence” in the controversial fund, while 11 percent have “very little confidence.”
SWS also noted that people with more knowledge about the Maharlika fund tend to have higher confidence that it will not be harnessed for corruption.
Who knows about Maharlika?
SWS pointed out that knowledge on the Maharlika fund was higher in Metro Manila at 29 percent, and Balance Luzon at 24 percent.
Awareness about what the fund entails was much lower in Visayas at 14 percent, and Mindanao at 10 percent, it added.
“Those with at least partial but sufficient knowledge about the [Maharlika fund] were higher among those who either graduated from college or took post-graduate studies at 28 percent, those who either had some senior high school, finished senior high school, completed vocational school, or attended some college at 23 percent, and those who either finished junior high school or had some vocational schooling at 24 percent.”
SWS said some 15 percent of those partially but sufficiently informed about the Maharlika fund had at least some high school education, while nine percent either had no formal education or some elementary education.
The SWS did face-to-face interviews with 1,200 Filipino adults – 300 each in Metro Manila, Balance Luzon, Visayas, and Mindanao.
Eleven percent of the respondents are aged 18 to 24, while 19 percent each belong to the 25 to 34 age group and the 45 to 54 age group. A bigger chunk of the respondents, or 32 percent, are 55 years old and above.
The error margins for the survey are ±2.8 percent for national percentages and ±5.7 percent each for Metro Manila, Balance Luzon, Visayas, and Mindanao.
Why this matters
The proposed Maharlika fund, a pet bill of President Ferdinand Marcos Jr., was approved in Congress despite the staunch pushback from critics who questioned the need and timeliness of the measure.
The measure now only awaits the signature of Marcos, who had once said he will “sign it as soon as [he gets] it.”
The Maharlika fund bill, which Marcos certified as urgent, seeks the creation of a sovereign wealth fund that the government can use to make investments.
This is among the measures he is expected to highlight during his second State of the Nation Address on July 24.