Transcript Senate President Migz Zubiri
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Q: I want to start with this. So the wage board has already raised the minimum wage of private sector non-agricultural workers, that's an increase of P40. At one point, I know you wanted a P150 daily wage increase. But that was a whole different route. This is the route of the wage board. What are your thoughts first on the P40 increase?

SP MIGZ: It's not enough, Karen. We thank the wage boards for the increase but definitely hindi pa sapat yan. That's not enough. 40 as mentioned in your news item earlier, hindi pa nga kayang bumili ng isang kilong bigas because if you go around the markets, one kilo of rice is about P44 to P45 today nowadays. So hindi po siya sapat. And we've done our research, we've done our interviews, and definitely we need at least P100 increase per day to make a big impact to the labor force, at least in Metro Manila. Alam mo Karen, ang mangyayari diyan iincrease din nila po yung sa probinsya, all the provinces from region one all the way to the last region, which is CARAGA. And in the provinces, the minimum wage is only P350 to between P350 to P370. And I've already said this, what is the difference between our laborers in Mindanao as compared to the laborers in Metro Manila, where they're getting at least a P580 at a time or P580 per day? Where all the prices of rice is the same, the price of electricity is even more expensive. Yung cost of living doon ay ganun pa rin kamahal. Sabi ko nga ang tubig hindi naman bumababa at ang presyo ng kuryente. Ang presyo ng Jollibee or McDonald's ay pareho lang sa Metro Manila. So it is not enough, that's why we're moving for across the board so that even the provinces in Bukidnon, Davao or in Siquijor and all the provinces, up to the north, in Ilocos Norte, Ilocos Sur, they'll be able to feel a bit of difference if we can give them at least ang aking take is madaragdagan man lang ng P100 over and above the P40 already proposed by the wage boards. If you look at all the surveys, Karen, they say they're miserable. They have jobs. We have a very low unemployment rate. But we interview those that are employed and self-rated poverty nila 51%, ibig sabihin kalahati ng ating populasyon kapag iniinterview, sinasabi nila mahirap sila. They're not feeling the growth that we're feeling as a nation, we have a 6.6 percent GDP growth rates. Our inflation rate is supposedly going down but they don't feel it. Hindi talaga nila nararamdaman. Kaya kami sa Senate bukas ang puso namin, yung mga contractual, ayoko magkaroon ng contractual but what can we do, the elevator ladies, the janitors, the security guards that get minimum daily wage. We let them stay in the Senate. Dahil kung uuwi pa sila araw-araw, magpapamasahe pa araw-araw, hindi na po sapat ang pera nila para sa kanilang pamilya. And remember kakaltasan pa yan ng SSS, ng Pag-ibig, ng Philhealth by the time, they get their salaries yung P40 na yan kinaltas na yan sa Pag-ibig, sa SSS and Philhealth so they really don't feel the change at all. Kaya Karen sa aking pananaw, kulang po yan, kailangan nating dagdagan yan and with due respect to our economists, with due respect to our business people, alam mo naman, Karen, I have many friends. I have many friends that are the top 20 billionaires of this country. They can afford it. What we need to do is increase the capacities and the happiness index of our workers. I'm telling you, this is what's happening now with the nursing situation with fresh graduates, ang gusto po nila mag-abroad na lang. That has become now the byline when you graduate, mag-abroad na lang. We're going to lose, we're going to your quality neighbors in the Philippines to other countries. Unfortunately, we don't look at wage problem.

Q: Okay. So I mean moving on from this. How then, can you actually increase the wages when this is it? Isn't it mandated by law, that it's the wage board after discussing with the stakeholders that determine the minimum wage increase? So kumbaga they've already spoken with stakeholders, this is resulting in petitions being filed by different labor groups and the number that came out is P40. What then can be done because you wanted P150 Senator, but then can you actually go to Congress for the additional P100. Is that allowed under the law, Senator?

SP MIGZ: Yes, we can. There's no ban, allowing Congress to come up with minimum legislated minimum wage, or there's no law. There was a law that created the wage board. That is a fact that was in the early 90s. And then since then, we kind of washed our hands through it and gave it to them to be able to come up with the, what you call minimum wage per region. There's no law that bans us from actually coming up with legislated wage hikes. As a matter of fact, there was a one legislated wage hike that was given, I think it was P87. I don't have the documents with me because I didn't know we were going to talk about the labor problem, but it was in the early 90s. Then they approved the wage boards to take over but there was one approval about in the early 90s or late 80s where it was about P87 increase. So ang akin dyan, ang Estados Unidos, in the United States they have a, what you call a federal minimum wage. The federal minimum wage in the United States is about $10.50 per hour. Imagine tayo per day, that was the amount, for them, it's per hour. And all the states have to follow. Of course, California, mataas na I think it's $12 per state ng California and then other states follow, follow suit. So that is what we can do and I'm gonna appeal to the President when they see him. Mr. President, to allow our people to... (line was cut)

Q: So you were saying earlier just an overview for the audience, the national wage board already agreed to a P40 minimum wage increase, but yet your earlier proposal was a P150 minimum wage increase. So you said there is no law, actually banning Congress from instituting a wage increase. You then said you will speak to President Marcos when you see him, can we continue with that thought? Go ahead, Senate President.

SP MIGZ: So what we'll do is, we approved it already at the committee level. We already approved the P150 wage hike increase on committee level under Senator Jinggoy Estrada, being the chairperson of the Committee on Labor. So what we could do is we could amend it and come up with the committee report, proposed a P100 wage increase minimum wage increase, additional minimum wage increase for our workers. So we can work on that para malapit na po yan sa P150 na prinopose natin from the very beginning. And then once we do that, of course, we will make an we'll hopefully be able to pass it I have a strong support of all our colleagues in the Senate. Sumusuporta po sila dyan kasi nakikita po nila na talagang may kakulangan. If we pass that, they will, of course, we will see the President and discuss with him the proposal because you know their claim is always that word a second highest minimum wage in Southeast Asia. That's no longer true, Karen. That's no longer true. Indonesia has already gone over 800 I think they're about 830 per day. Yung Malaysia is already think 890 Close to P900 per day. Of course, Singapore I don't have to mention because Singapore did not work on a minimum daily wage. They work on a minimum monthly income, which is the tens of thousand of Singapore dollars. So I mean, not 10s of 1000s of Philippine peso. So we're no longer number 2 highest. So everybody adjusted. Indonesia being now a very strong G20 country with a strong economy. They decided to also increase the benefits to the workers. Malaysia as well and I believe Vietnam is also taking a look at increasing the wages because they were at par with us. Vietnam is about P510 pesos per day, tayo P580 but remember that Vietnam walang kaltas yan. They are a communist country. They don't need to contribute to Pag-ibig. They don't need to contribute to Philhealth because their housing is free. That's communist country, their Pagibig, I mean, they're Philhealth is free. The hospitals are free. They're being a communist country, and they don't have to contribute to other agencies na kinakaltasan sila. Tayo kasi it's about P45 to P50 a day ang kinakaltas. So malaki, malaki. If you look at parang at par na rin tayo at Vietnam when you take up all the kaltas sa ating mga workers. Now, Vietnam they seem inclined to go a bit higher. I spoke to the ambassador and I have a meeting with the head of parliament of Vietnam, and they're, they want to share the wealth of the people because they're also becoming to be a global economy. So what is important naman Karen, it goes back to the economy. Hindi naman ito itatago ng ating mga kababayan. Gagastusin nila yan, they have additional funds to bring their kids to Jollibee or McDonald's during the weekend. They have funds to bring their families to the mall. So it just goes back to the economy. Nothing is lost. And I think the happiness index here will increase because ang mga tao they're happy to work in, stay in the Philippines. That's the most important point. Case in point, we talk about nurses all the time. They're leaving because maliit ang sweldo nila. If you look at all the chat groups, wala naman kaming sweldong maganda dito kaya mag-aabroad kami. So that's what's going to happen. All our skilled workers, all our educated workers are trying to find a way to work abroad.

Q: Okay, but that just to put that in context, the nursing problem is a different problem because they're not minimum wage earners. But with minimum wage earners. Number one, I wanted to ask you, the NEDA doesn't support legislating a wage increase? The concern of Secretary Balisacan, is he says how can we export, how can our products become more competitive, we lose competitiveness if our wages he says is legislated. So yun ang unang tanong, is what, there'll be an increase in prices of basic goods, inflation will be affected, plus the competitiveness of our exports?

SP MIGZ: Ang problema kasi ng wage boards, Karen. Alam mo gumalaw sila dahil gumalaw kami sa Senado. To be honest about it. If I kept my mouth shut, and we didn't complain about the problem of labor, the last six months, this petition in the Senate has been pending for the last six months. We are working as fast as we can. They started to work after that. It's a little too late. It's too little too late, ika nga ang wage boards. The last approval was several years ago, and they were P17, P20 ngayong nagagalit na ang tao at nasa national consciousness ng mga kababayan natin na kailangang iangat ang sweldo ng ating mga kababayan parang dyan lang sila gumalaw. With due respect to them. With due respect, I know Secretary Ben is a dear friend of mine, but during the hearings, that was my complaint. Bakit hindi kayo gumagalaw eh, the last two years tumaas ang presyo ng bilihin di ba? There was a high inflation rate increase, almost almost double digits, we almost got the 10%, it was about 8.7% at one point in time, hindi naman sila gumalaw. Sabi ko nga sa ibang bansa meron silang federal o national minimum wage tapos pwedeng ayusin yan ng ating mga wage boards kung kailangan ba nilang dagdagan. Ang akin dyan, it was too little too late and that's why we need to act fast because if not the diaspora of our laborers will be intense. I spoke to, for example I spoke to Deck Go, I had a nice conversation with Robinsons Land President Deck Go, who's also presidential adviser. Sabi niya okay yan Migz, because I'm also having a hard time hiring good people now. Umaalis na po ang mga tao namin, they go to Singapore, they go to other countries. I was recently in Cambodia. Can you imagine? We're supposed to be a better economy than Cambodia. I spoke to the Filipinos there when I want to mass. Nagsimba po ako sa Cambodia nakita ko ang mga Filipino Overseas workers, happy sila doon. Mas maganda ang sweldo nila doon kesa minimum wage dito sa ating bansa kasi entry level sa mga private school teachers, minimum wage minsan hindi naman ganun kataas ang sweldo nila. Doon sa Cambodia they give preference to our teachers because they speak good English. So yan ang punto ko, Karen, we might have a problem with teachers. We might, we have a problem with nurses because it's also outrageous. And eventually, Undersecretary Bitonio said earlier, there will be a wage distortion. That's right. And that's the distortion we want. Alam mo kung bakit? Gusto natin taasan konti ang sweldo ng ating mga kababayan, whether they are minimum wage or the regular monthly workers.

Q: I wanted to ask Senate President, is there a study that if there's a total of P140 or P150 wage increase in cash, in cash, because there could be other benefits that are non cash? Is there a study in terms of how it will affect exports, inflation? Have you commissioned at least a study on that so we know the effects?

SP MIGZ: Well, we're commissioning, we're looking into it now. We ask the Senate to do a survey. We actually commissioned several surveys to also talk to companies about the impacts that lead to. But just imagine P150 daily increase, we compute it already a P150 daily increase at our proposal, one month will be about P3300 per worker. In 1000 workers, a company that employs 1000 workers that's less than P40 million, it's about P39 million plus yearly, every year yan that the company has to add to its cost to give them, to give their employees P150 additional wage increase. Karen, nakita nyo na ba ang mga sales ng mga supercars, nakita nyo na ba ang mga sales ng mga Ferrari, Lamborghini, Porsche nagkakaubusan. Dahil ang mga negosyante happy-happy they're back to pre-pandemic levels. How much is one Lamborghini P40 million. Siguro wag na muna sila bumili ng supercar. Ibigay na lang muna ang pera na yan sa mga laborers nila, they can afford it. That's for 1000 workers, it's only less than P40 million additional expense to a major exporting country. I think, you know, when I went to the United States and I want to put this on record, I was there for a working visit. It was a grueling visit to Washington DC. We met the State Department several other congressmen, very concerned. They want to move to the Philippines, believe it or not, this is their concern. They want to move to the Philippines but they're looking at our wage, our labor problem because they don't want to be accused of moving to a country which runs sweatshops, sweatshops dahil napakababa ng sweldong binibigay nila. It's a big disparity is what they're paying in other countries where they're located. So imagine that, to my surprise, nagulat ako, they want to pay the right wages. Case in point, I brought a company in Clark and then imagine gusto nilang magbayad ng above minimum wage, pinagsabihan ba naman sila na hindi ko na sasabihin kung sino, pinagsabihan daw sila that don't do that because it will look like you can afford it and therefore you will not get the incentives given to ecozones. I could not believe my mind. They have to keep the way this low so it will look like hindi po nila kayang magbayad para meron silang tinatawag na economic fiscal incentives. I can't, I couldn't believe it. That's why in the next hearing of the budget, I'm going to raise that issue. Why is that being caveat if you want to bring a company into the Philippines, bakit mo sila pinipilit na wag magbayad ng above minimum wage dahil kapag nagbayad sila ng above minimum wage hindi sila makakatanggap ng insentibo that is given to economic zones I can't believe it. I couldn't believe.

Q: Is that legislation that needs to be changed or not necessarily?

SP MIGZ: No, that's not even legislation.

Q: In other words, if they pay higher, they can keep incentives.

SP MIGZ: It should be because the FIRB which we created during the Create law, which rationalize all fiscal incentives, they should be giving these incentives to exporters that want to set up shop here. We're trying to get companies from China, US companies and European companies that are leaving China, moving to Vietnam, Indonesia, we want to get at least 20% or 10% of them here to the Philippines. But with these kinds of discussions when they come into the Philippines, it's scaring them away. Hindi nila maintindigan. Kaya naman nitong mga exporters, itong mga big companies they can pay over and above minimum wage. So that's why I'm gonna get to the bottom of this. It was told to me when I was in Washington, DC when they spoke to an investor that wanted to move into Clark. Actually, they move into Clark na and they're working out the salary incentives for their workers. And then they complained to me, Mr. Senate President, we were told though, that we couldn't give so much because it will look like we can afford it and therefore they will not give us incentives. That is ludicrous. It's crazy. Karen kaya imagine the frustration we feel. The President is doing a great job being the number one salesman of our country and then when they come here, yan ang sumasalubong sa kanila. Kaya, we have to work all these things out and hopefully, in the next few months, we can get the clarification on that. Kasi kauuwi ko lang, I just came home less than a week ago, and I'll be calling the CDC head Clark Development Corporation, Mam Agnes and the rest of the team, to my office and we'll discuss why is that so. Because if the problem is with FIRB, then I will go to Secretary Diokno because they FIRB is headed by the Department of Finance, why is that the case?

Q: Okay, Senate President, last on this issue. Would you, are you aiming or targeting that the wage increase, the proposal be included in the President's SONA on July 24?

SP MIGZ: Well, that is ika nga sa Tagalog, pasuntok sa buwan. Suntok sa buwan yan, dahil alam mo si Diokno, si Balisacan, the economic team is not in favor of it. I spoke one time to Meenah which is the Secretary of Department of Budget and Management. And I convinced her being former Senator Edgardo Angara protege like myself that we also have to give a fighting chance to the Filipino people, when I say fighting chance, you gotta give them good indication, good wages. And so she understood it, but the first thing she told me is, you're gonna have to contend with a very hostile finance or the economic team of the president. But you know, Karen, I'll tell you, I will say this happy life, happy wife is a happy life. And I think a happy Labor Force will make a happy country, will make our country very happy country and it will increase productivity. Alam mo kung day in, day out ang sweldo mo hirap na hirap ang pamilya mo, parang you're toiling the day, day in and day out. Parang you are just a slave to your work na parang wala ka namang extra para madala sila sa Jollibee, wala ka extra madala sila sa Chowking or McDonald's. They don't have the extra capacity to spend. Ubos ang pera nila, pamasahe pa lang, ubos na kalahati na ng wage yan. Many of our workers live outside of Metro Manila Karen. They live in a Cavite, they live in Laguna. They have to travel that's about P200 a day on their travel expenses alone. Kawawang-kawawa ang mga kababayan natin, Karen. Let's give a heart. Let's be, you know, ika nga, let's share the advantages that we've got out of the pandemic. The economy is growing slowly. We are getting investors. It's not about, the discussion is not about the wage. Believe me, when we get investors, it's never about the wage. It's always about the inconsistency of policy when we talk to them. It's about that when you go in there, they tell you we won't give you incentives if you increase their salaries. It's stupid things like that drive us crazy. And I do understand why we don't have a policy, just single policy like Vietnam, Indonesia, where it's one office that they go to whether it's the board of investment, FIRB or the Department of Trade and Industry. There should be a one stop shop or all these investors can come in and they will be given the same equal treatment from Aparri to Jolo.

Q: Okay, now, Senate President Zubiri Let's now talk about the Maharlika investment fund. So you have clarified it that of course, the issue that Senator Koko Pimentel had brought up. He brought up a provision that he claims was tampered without a plenary authority. This is Section 50 and 51. When it comes to the prescription of crimes and offenses, there are two different periods and the Senate eventually decided on a 10 year period. Right. So that was the decision. But let's move on to that. Will this be a legal issue? Because of what's he brought up?

SP MIGZ: Karen, what I think would be called tampering is when you do not reflect the true provision or the true discussion on the floor. I've been a majority leader for three terms. I've seen a lot of bills going in and out of our institution, and Karen, we did not tamper because I was there presiding at that time, where Senator Risa Hontiveros proposed a 20 year prescription period and Senator Mark Villar, declined it. It's here I have the transcript of record. The 20 years was an honest oversight. It's honest mistake by our secretariat. There was only one prescription period and that's that 10 years. I guess I was there, presiding and Mark declined the request or the amendment of Senator Risa Hontiveros and she gladly accepted that her proposal was lost and so there's nowhere in the records. Karen, there's nowhere in the records that reflect a 20 year prescription period. Nowhere. So ang nangyari dyan kasi Karen, we ended up 2 in the morning. It was a long night. We ended at 2 in the morning of Wednesday. And then we had a meeting with the congressman, it wasn't a bicameral, it was just a meeting with the congressman for lunch at 11 o'clock the next day, so technically we had only nine hours so syempre natulog pa ang secretariat. So pag type they were confused, ano bang provision na yan, they just leave two provisions which was an honest oversight on their part because if we go back to the records, remember, we have to reflect the true intention of the provision as reflected on the transcript of records. Any legislator knows that. This is before the enrollment process. Kasi tampering kapag naenroll mo na ang bill and it's signed by me and the speaker and the president. That is that, you're not allowed to anymore, put any amendments there, whatever comma, period, or whatever word because it's an enrolled copy already. Prior to that, there's what you called subject to style. When you do an amendment, we always say the amendment is accepted subject to style. Why? Because sometimes, many of us are not lawyers. We give the proposal okay, I move for example, I move that this regulatory period will be at this year to this year and all that etc, etc. Being not a lawyer, it could be a simple line. But we have to put the legal phrases on how to make that line reflective of the position of the Senate at that particular time. That's how you go subject to style. Tapos nirereview ng mga lawyers natin yan sa secretariat. They put the proper wording for that provision, as reflected the true intention in the transcript. At the end of the day, this is the most important that's the transcript of record, because that's why we stand up and we say, I would like to put on record for further proceedings and possible deliberation to the Supreme Court. There's because what happens is when there is a case filed to the Supreme Court, the Supreme Court will always look at the proceedings, they will always look at the transcript of record. And clearly, in this particular provision, there was no acceptance of 20 years. So it was an honest oversight by our staff, to be honest, that they're very stressed because I think it's not fair. My due respect to my dear colleague Senator Koko, I talked to him about it already, I explained it to him. Well, unfortunately, I was in the US when this whole thing blew up. And I was not able to give a proper explanation. It would be difficult because on the time difference alone, it would have been very difficult. So I said, I'll wait till I get home to explain to everyone that number one, this was not an enrolled bill yet. Hindi pa enrolled bill sya Karen. Usually when you approve it on third and final reading, subject to style, you clean up all the styling amendments, yung mga comma, periods, typos even the spelling, the right use of the legal terminology nilalagay yan dyan. But it has to capture the essence of what was discussed in the plenary

Q: Why was the 20 year period you said it wasn't there. It wasn't, wasn't discussed, but it was in the bill. Is that correct?

SP MIGZ: No, no, it was discussed. There was a motion, there was a motion of Senator Risa Hontiveros to propose a 20 year prescription period for what you call crimes, crimes and offenses, for crimes and offenses. It was lost, I presided on that.

Q: And was it agreed on the floor yung 10? Kumbaga yung 10 was agreed and the records will bear this out.

SP MIGZ: Yes, it's here. I will read perfectly, hopefully perfectly clear, though. Senator Villa: I will propose an amendment to the amendment of 10 years instead of 20. Then Senator Hontiveros gives her reasons and eventually sabi ni Senator Villar: No, I do not accept the 20 years. I will only approve to the 10 years. So if we left that in the bill, na may 10 and 20 that is what's considered tampering, because that was not agreed on the floor. So you have to correct that. That's an honest oversight. Ika nga. So we just corrected it. Aactually I gave Senator Koko our dear minority floor leader a copy of the transcript of records. I gave him the letter which is a proper thing to do, Senator Mark Villar wrote the Senate saying that excuse me, that particular provision is false. There should be no provision such as section 51. It should only be 10 years. And that is why with this letter, that's the instruction of the sponsor to collapse it into one section, only 10 years. That's why there's no more section 51, it is just section 50. My dear Karen so there was no tampering that took place. I will never allow tampering. I will never allow while I am living and breathing in the Senate, that there will be a provision or an amendment that was never discussed on the floor. That will never happen under my watch. So clearly, it was just an honest oversight and that happens many times. I have many bills here. I'll give you examples of bills that we passed in the few months, in the past few years. The AFP Bill, the one that we just passed on the promotions for AFP generals and officers. The amendment process was all the way even after the bicam was approved. We got the statement, we have actually the documents here that the amendments done even after the bicam has already approved here. I'll give you the most recent bill. It was approved on bicam on March 21. The offices of Senator Jinggoy and Senator Koko Pimentel were still giving amendments March 22. As a matter of fact, it was ratified on March 22. But the letter of Senator Jinggoy, my dear friend, was requesting some amendments pa, perfecting amendments even after March 23. The letter was dated March 29. So in the legislative process, my dear Karen, dear colleagues and our dear friends that are watching, it is allowed to reflect the truth or to amend to reflect the true intention of the discussions on the floor. It stops only when there's already an enrolled bill, pag enrolled bill na yan, that is final that is checked by both House and the Senate. So yun yun, let me repeat to the public that was an honest oversight by our staff. It was not, there was no plans to tamper there was nothing illegal that took place. As a matter of fact, we have several precedents about this. And we, I have a long list of bills that we've done this before that were legal and binding and within the rules of both congresses.

Q: Okay, so the status right now Congress approves it. Has the President when do you expect the President to sign this into law.

SP MIGZ: This week, I believe the Speaker of the House will sign the enrolled copy. And maybe between the second or third week of July, the President can sign this already into law.

Q: Okay. Once it is signed into law, take me through it just quickly. So then the Maharlika investment fund becomes the law. Does an IRR still need to be put together, what works after it's signed into law? How do you form the board, who then chooses again? What happens senate president?

SP MIGZ: Well, to allay the fears of the public, we put a lot of, I think two pages of safeguards on the law. Even on the discussions of who the President will appoint. He cannot appoint anyone on whim. We created a council that will come up with the names for the president to appoint. They have to be the best of the best that will be approved by this Council. This council is also fixed, who will be members of council.

Q: But who chooses the members of the council.

SP MIGZ: Well, of course, the President but there are criterias like head of business groups, they are head of other agencies and the Bangko Sentral of the Philippines for example, one the head of course of Department of Finacen, and then it would be from the private sector which the criteria is very strict. So it's not it goes, it's like a similar to judges go through the judiciary bar council.

Q: But the President appoints?

SP MIGZ: Yes, of course, except for the private sector. Karen and then we also put very strict safeguards on who can sit as head of the Maharlika Investment Fund. They have to have several years of experience not only government sector and private sector as well. There are of course, they cannot have any cases filed against them. Even just cases or mere cases alone, they will be disqualified na.

Q: Pero ang tanong ko Senate President kapag naisabatas na ito, there is no IRR needed anymore because you're saying that the law already has in place the process itself to form the corporation or may IRR pa dapat?

SP MIGZ: Yes the law is very clear on the processes. We wanted to make sure on that. So we got the amendments of all our colleagues in the Senate before and discussed it for over a month on the floor. And we were able to get the best amendments of our colleagues that put those safeguards in to make sure that the one we'll head the Maharlika Investment Fund is thoroughly vetted out. Hindi mga hao shao na mga tao. And I think that's the most important there, to allay the fears of our kababayans, ilalagay lang nila ang kanilang mga lackeys, no, it's going to go through a vetting process. The President will be given several names up to about five names and he will choose the best of the best there. And even the choices before they are approved by the council that will choose them or the board that will choose them will have to go through several vetting processes as well. For example, they have to have experience in private sector banking and finance. Not necessarily just government experience, because it's easy to just pick out someone from government and put in there. So he must have the background. So matindi. At saka yung sa safeguards we have one or two pages of penalties, I'm sorry, two pages on penalties alone sa misuse of funds. Napaklaro. I mean, it is something that I think nakakatakot if I was in the private sector, if you look at the two pages of penalties and offenses that can be punished by law. It's quite a significant amount of penalty. So talagang para sa bayan na lang ika nga. Somebody will be there to do it and help our country move forward.

Q: Okay. All right. Now, before the passage of the Maharlika you were did face criticism that the bill was rushed? Right. And there were talks that you were fending off an attempted coup in the Senate, in terms of leadership that there was, there were threats to your leadership if you didn't pass the Maharlika Investment Fund. Now, I know you saw reporters two days ago, I read the article on new facing reporters that you'd be prepared if there was a change in the Senate leadership come July 24. But let me ask you first sir, was there really an attempt? Did you sense it were their moves in the Senate?

SP MIGZ: Let's go backwards a bit, Karen, to talk about it being rushed. Actually, I was very transparent to the media. Remember that the House of Representatives passed that on November last year the Maharlika. They passed it before the break of December last year. I was asked by the media when do you think we wrap this up in the Senate? I gave them the timeline before sine die. So it's not that we rushed it I actually was very transparent. I said I think I believe we can tackle this we can tackle this January, Feb. We can finish it January, February, March, which is the first quarter of our regular calendar. Then there's this April break, but that's the holy week break. We come back on May to discuss it again before the sine die break. So I was spot on. I said we'll finish it before sine die of this year. So we did that, Karen. I never said that, oh, no, It will take us two years. No, I said that we will be done with it before sine die, so I did not rush it. It was part of the calendar. And I was very open about that. So on the issue of... so going back to that was there a threat on my part.

Q: Yes, was it real?

SP MIGZ: Karen, I'm going to say this, I serve at the pleasure of my colleagues and I serve at the pleasure of my colleagues. If they're not happy with my leadership style, then they can always just talk to me in caucus..and I'll give my position.

Q: But was it real? In other words, these talks..

SP MIGZ: I don't know where to actually, I really don't know where all this noises is coming from Karen because you know naman my seatmates who per solid eight and with the other blocks that they're supporting me I do not know where this noise is coming from. And cropped up again this week. I don't know, we asked other colleagues, he said nobody's talking to anybody. So I do not know if it's chismis coming from outside to create intrigues, ang akin lang naman dyan Karen I'm ready to do what my colleagues want. If they want me to continue my work for them, then I will gladly do it and work harder. If they say that we want a new leader then I will be glad to step down. And I see to my colleagues, I am here the pleasure of my colleagues can I think everybody should know that the Senate is always there at the pleasure of the colleagues. You know, they always say one foot in one foot out when your Senate President you're one foot in the Senate presidency and one foot out, because at any time, they can recall you and change you. But what's important is I want to thank all my colleagues. Nagpapasalamat po ako sa aking mga kasamahan who came up with very, very heartwarming statements of support for me. I think my leadership style Karen is different from the other senators. If you've known me for a long time, and Karen, since we were in high school, I'm a consultative leader, I believe in consultation with my colleagues I do not demand anything from them. I do not order them to do things for the administration or for the Senate. I am also one that believes in consensus. I'm a consensus builder. I think 'yan ang napakahalaga and I think Karen what is important is they see that I have no ambitions. Kasi kung may ambisyon ka...

Q: I was gonna ask what is this you said you were gonna retire? Are you in this mode because you really plan to retire after? Did you mean...

SP MIGZ: I really can't run anymore, Karen di ba sa 2028 'di na ako makatakbo dahil I'm with my second consecutive term.

Q: Yeah but you can go local.

SP MIGZ: But I'm not looking at higher office Karen. Walang nahahalal na vice president at president na mestizo na ganito, walang nahahalal na ganito. So ang akin dyan makatulong lang ako sa aking mga kababayan at this point in time, I have no political ambitions, I'm looking forward to my retirement in 2028. I've done you know by 2028 Karen, I would have been 25 years in elected office. I would have been 30 years in political in the political arena be you know, having ran in so many elections, pagod na rin ako Karen eh I started very early. I was 28 when I started in public service. It's now time to look back and take care of my children who are going to be teenagers at that time and and do my best in this next five years for our people. It's our it is our generation, Karen. We're Gen Xers. We should allow the what you call Baby Boomers to relax. It is now our generation to make the difference. And after that, let's give it to the millennials. Let's give it to the Gen Z. Ang akin dyan let's do the best we can in the years that are given to us by the Lord above and by the people. So I think that was that's important because I tell my colleagues wala akong ambisyon I'm here only to protect the institution because I believe in the Senate. I truly believe in the Senate as the last bastion of democracy of our country. We need the Senate and we need a strong Senate. I know through the years we have our ups and downs. We had of course the requirements about the decorum and all that I couldn't also comment because I was not in the country. But kanya-kanyang estilo ng liderato yan Karen, we have our different styles of leadership. There were leaders before in the Senate was publicly bash you on the plenary floor if you make mistakes like that, there were others who are quiet who didn't who allow that to happen. I personally I call them out but on a nicer on a friendlier and more consultative note. I suspend session I talk to them hindi tama yan Senator we have to do this because at the end of the day Karen sila lahat ay halal na senador, whether from number 1 to number 12 they were given a mandate by the Filipino people to serve in the Senate. We just have to work around it. Many senates in the past many congresses in the past you have different characters in the Senate, may mga characters na lumalabas, you just have to be able to shepherd them. I was once a newbie, and whenever I stood up, Senator Joker Arroyo used to always ask me, why are you always asking this question? He was such a joker. He always put me in my place. Then I'd sit down and listen and talk to him. Then he will teach me. So that's why when Senator Drilon said, I like to give this advice to Senator Zubiri, hindi ako napikon dahil unang-una mahal ko si Senator Drilon. I value his stewardship, I value his advise to me. And I told him we acknowledge the mistakes Senator Drilon and will do better. Also, hopefully the entry of this new second regular session, you'll see a more enlightened, more vigorous and very hardworking Senate.