Press Release
December 8, 2022

STATEMENT OF SENATOR RISA HONTIVEROS ON THE LATEST DEVELOPMENT ON THE MAHARLIKA FUND PROPOSAL

Salamat at kahit paano ay nahimasmasan ang proponents nitong Maharlika Fund.

Again, as with any proposal, this requires deliberation and consensus between and among members of both Congress.

Now, they really would have to examine if there are excess funds at Land Bank, DBP and BSP, that they have been brandishing as "enough".

Ang sabi, aarangkada ang Land Bank pagdating sa private sector investments sa value chains, na papakinabangan ng agrarian reform beneficiaries na ngayon ay baon na baon sa utang.

Ang sabi rin, DBP ang mangunguna sa pagtugon sa mabilis na pagtaas ng bilihin sa pamamagitan ng industrialization at import substitution.

The DoF Secretary even said he wants the peso defended by releasing massive BSP foreign reserves when there is an attack on the peso.

Saan pupulutin ngayon ang mga pangakong ito? Kung kailan naman nakikinig ang sambayanan, saka naman tingi-tingi ang paghahain ng mga probisyon ng Maharlika Fund bill. Huwag sanang sayangin ang panahon at tiwala ng mga Pilipino.

It is only a matter of time before this trial balloon completely loses air, because, as this retraction shows, we don't need and can't afford a sovereign wealth fund.

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