The House of Representatives gave the green light to a new sovereign wealth fund – cleverly named ‘Maharlika Investment Fund’ (MIF) – which will enable the government to make smart investments, giving all Filipinos more reason for financial hope.
House Bill (HB) No. 6608 was affirmed with an overwhelming majority of 279 in favor and a minuscule minority of six against, leaving no legislator undecided as President Ferdinand Marcos Jr.’s urgent certification propelled the measure to speedy passage through Congress’ lower chamber.
Despite the uproar of objections and disapproval, the House approved a controversial measure that provoked much debate. Many politicians expressed doubts about whether this moment was appropriate for establishing a MIF or SWF in our nation; however, these dissenters were overruled by those who thought otherwise.
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