Press Release
May 17, 2023

MAHARLIKA BILL UNDERGOES PERIOD OF INTERPELLATION IN THE SENATE

Senate Bill No. 2020 filed by Senator Mark Villar which aims to create the Maharlika Investment Fund has entered the period of interpellation in the Senate.

"Maganda po na madiscuss natin ang mga concerns ng ating mga kapwa senador. From the start, we always wanted to scrutinize this bill. No better way to accomplish that than by entertaining questions from our colleagues," Senator Mark Villar said.

Villar stands firmly committed to the ideals and objectives of the Maharlika Bill. With a deep understanding of the challenges faced by the nation, Senator Villar has worked tirelessly to ensure that this legislation empowers the people, creates a fair and equitable society, and builds a prosperous future for all.

"One of the worst at one point was the first half of 2022 for the Norway Wealth Fund which incurred high paper losses. But then again, when you analyze it over an extended period, let's say over 10 years, the overall return for government surpasses that period of losses." Villar explained

"I believe that the Maharlika has enough safeguards to ensure that we will achieve a good rate of return for the government," Senator Mark Villar added.

Villar emphasized the significance of scrutinizing the bill thoroughly, and he believes that engaging in discussions and addressing concerns raised by fellow senators is a vital part of the legislative process.

"The ongoing process of interpellation highlights the Senate's commitment to deliver a well-crafted and impactful law. By engaging in open discussions and collaboration, we are emphasizing the importance of a thorough examination of the Maharlika Bill. We must take the necessary time to analyze its provisions, address concerns, and ensure that the legislation we pass truly serves the best interests of the Filipino people," Senator Mark Villar stated.

Among senators that already interpellated were Sen. Bato Dela Rosa, Sen. Grace Poe, Sen. Raffy Tulfo, and Sen. Loren Legarda. The period of interpellation is expected to continue today, Wednesday.

Thank you!

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