Cayetano on Maharlika Investment Fund (MIF): Ensure safeguards, make it work for Filipinos

Senator Alan Peter "Compañero" Cayetano said the government must prioritize the implementation of proper safeguards in the Maharlika Investment Fund (MIF) of 2023 to guarantee its success and effectively serve the interests of the Filipino people.

This as the Senate in the wee hours of Wednesday morning passed Senate Bill No. 2020 or the proposed MIF, with 19 votes in the affirmative, one negative, and one abstention.

The bill is set to go to the bicameral conference committee to reconcile the Senate version with that of the House of Representatives'.

"Huwag lang nating ipasa ito na may tamang safeguard, ipasa rin natin ito to make sure that it meets the objective na kumita ito and that the money goes to the Filipino people," Cayetano said in a manifestation late Tuesday night during the discussion on the bill.

Cayetano said there are pressing priorities in the short term that demand greater attention. "I would rather use the fund for education, agriculture, infrastructure, and health. The bottom line is that we have to align the priorities of this fund," he said.

Citing data from the Philippine Statistics Authority, Cayetano said six out of 10 Filipinos "die without seeing a doctor." He also said 16,000 barangays "still do not have a primary health unit, walang health center."

Cayetano said one way of dealing with these immediate problems is allocating the P500 billion seed capital of the MIF towards the critical needs of the education, agriculture, infrastructure, and health sectors.

But he said the better way is to make sure the MIF succeeds and that reforms are introduced in the 2024 national budget.

"I can criticize to death na dapat iyang 500 billion [na seed capital ng MIF], mapunta lahat iyan sa school buildings. But if we can somehow fix that in the budget in 2024, then we'll have both," he explained.

"We will have a Maharlika Fund that deals with its specific objectives and we'll also have the classrooms that we need," he added.

Neither good nor evil

Cayetano said his personal stand on MIF is that the sovereign fund is neither good nor evil.

"It's like a gun na kung nasa kamay ng pulis and it's for peace and order, eh di maganda. If it's in the hand of the kidnapper, eh di gagamitin sa masama. Ang baril ba ay pwedeng i-abuse? Pwede," he said.

"Our duty [in the Senate] is to pass a law that will make sure that the proper safeguards are there, precisely para hindi ma-abuse at magamit sa masama. Meaning 'yung public funds (ay) para sa publiko," he added.

As he wrapped up his manifestation, Cayetano asserted his commitment to evaluate the MIF measure objectively, irrespective of the administration in power.

"I had a deep thought on this na kung na-file kaya ito noong Duterte administration, would I support it or not? I came to the conclusion that I would still look at it the same. I would still push for the proper priorities now," he said.

Cayetano sa Maharlika Investment Fund (MIF): Siguraduhin ang safeguards para makinabang ang mga Pilipino

Sinabi ni Senador Alan Peter "Compañero" Cayetano na dapat bigyan ng prayoridad ng pamahalaan ang pagpapatupad ng mga safeguard ng Maharlika Investment Fund (MIF) ng 2023 upang masigurado ang tagumpay nito at makinabang ang mga Pilipino.

Ipinasa na ng Senado madaling-araw ng Miyerkules ang Senate Bill No. 2020 o ang panukalang MIF sa botong 19 affirmative, isang negative, at isang abstention.

Ang panukalang batas ay tatalakayin na sa bicameral conference committee upang pagkasunduin ang bersyon ng Senado sa bersyon ng House of Representatives.

"Huwag lang nating ipasa ito na may tamang safeguard, ipasa rin natin ito to make sure that it meets the objective na kumita ito and that the money goes to the Filipino people," wika ni Cayetano sa isang manifestation noong gabi ng Martes habang pinag-uusapan ang bill.

Sinabi ni Cayetano na mayroong mga mahahalagang prayoridad na nangangailangan ng mas madiing pansin. "I would rather use the fund for education, agriculture, infrastructure, and health. The bottom line is that we have to align the priorities of this fund," aniya.

Batay sa datos mula sa Philippine Statistics Authority, sinabi ni Cayetano na anim sa sampung Pilipino ay namamatay nang hindi nakakakita ng doktor. Sinabi rin niya na may 16,000 na barangay na walang primary health unit o health center.

Sinabi ni Cayetano na isang paraan ng pagtugon sa mga agarang na problema na ito ay ang pagtatalaga ng P500 bilyong seed capital ng MIF sa mga kritikal na pangangailangan ng sektor ng edukasyon, agrikultura, imprastraktura, at kalusugan.

Ngunit sinabi niya na ang mas magandang paraan ay tiyakin na magtagumpay ang MIF at magkaroon ng mga reporma sa 2024 national budget.

"I can criticize to death na dapat iyang 500 billion [na seed capital ng MIF], mapunta lahat iyan sa school buildings. But if we can somehow fix that in the budget in 2024, then we'll have both," wika ni Cayetano.

"We will have a Maharlika Fund that deals with its specific objectives and we'll also have the classrooms that we need," dagdag niya.

Hindi mabuti o masama

Sinabi ni Cayetano na ang personal niyang pananaw sa MIF ay hindi ito mabuti o masama.

"It's like a gun na kung nasa kamay ng pulis and it's for peace and order, eh di maganda. If it's in the hand of the kidnapper, eh di gagamitin sa masama. Ang baril ba ay pwedeng i-abuse? Pwede," sabi niya.

"Our duty [in the Senate] is to pass a law that will make sure that the proper safeguards are there, precisely para hindi ma-abuse at magamit sa masama. Meaning 'yung public funds (ay) para sa publiko," dagdag niya.

Sa pagtatapos ng kanyang pahayag, pinanindigan ni Cayetano ang kanyang pangako na susuriin ang panukalang MIF nang walang kinikilingan.

"I had a deep thought on this na kung na-file kaya ito noong Duterte administration, would I support it or not? I came to the conclusion that I would still look at it the same. I would still push for the proper priorities now," wika niya.