STATEMENT OF SENATOR RISA HONTIVEROS ON THE CERTIFICATION OF MAHARLIKA FUND BILL AS URGENT

The justification for the immediate passage of the Maharlika Fund is too convoluted and vague.

It is still being pushed despite the fact that there is nothing left of the income from the Malampaya oil and gas fields, and the law that would have raised the government's income from opening mines has not yet been passed.

Since there is no excess "wealth," they are now interested in taking the highly profitable funds of the Land Bank of the Philippines and Development Bank of the Philippines. This would be a huge loss to farmers and small businesses that cannot afford to loan from private commercial banks.

The deteriorating condition of trade and banks around the world was also used as a pretext to act urgently. However, this would necessitate the use of Bangko Sentral funds, which are our most reliable safeguard against peso depreciation, price increases, and loan interest rate increases.

Meanwhile, Malacanang refuses to disclose where the funds will be allocated. Will it be for drivers and operators who don't have the capital for jeepney modernization? Will it for the onion farmers or for fisherfolk without cold storage for their products? Or for new power plants and solar power storage required to prevent brownouts? I suppose not.

There's nothing more urgent than prioritizing funding our social services, agriculture, transport sector, and energy sector. Maraming pamilyang Pilipino ang namamaluktot na sa maiksing kumot. We must not allow our economy to sink deeper because of unreasonable spending.

PAHAYAG NI SENADORA RISA HONTIVEROS SA PAG SERTIPIKA NG MAHARLIKA BILL BILANG URGENT

Masyadong baluktot at lutang ang mga dahilan kung bakit kailangang madaliin ang pagpasa ng Maharlika Fund.

Pinapamadali ito kahit walang pagkukunan ng pondo dahil walang natira sa kinita sa Malampaya oil and gas fields, at hindi pa nakakalusot ang batas na magtataas sana ng kita ng gubyerno mula sa mga magbubukas na minahan.

Dahil walang labis na "wealth", pinag-iinteresan namang kunin at isugal ang maayos namang kumikitang pondo ng Land Bank of the Philippines at Development Bank of the Philippines. Magiging malaking kawalan ito sa mga magsasaka at maliliit na negosyo na hindi kayang umutang sa mga pribadong commercial banks.

Lumalala raw ang kalakalan at lagay ng mga bangko sa buong mundo kaya dapat maipasa na ito. Pero sa pagmamadaling ito, gusto rin alisin ang pondo para sa Bangko Sentral na siyang pangunahing maaasahang pananggalang sa pagbagsak ng piso, pagtaas ng presyo at interes sa pautang.

Sa kabila nito, ayaw sabihin ng Malacanang kung saan dadalhin ang pera. Para ba ito sa mga drayber at operator na walang kapital para sa modernong jeep? Para ba ito sa magsisibuyas o mangingisda na walang mapagdalhan ng cold storage para sa produkto nila? O para ba ito sa mga bagong planta ng kuryente o storage ng solar power para matigil ang mga brownouts? Hindi po.

There's nothing more urgent than prioritizing funding our social services, agriculture, transport sector and energy sector. Maraming pamilyang Pilipino ang namamaluktot na sa maiksing kumot. Hindi natin dapat hayaang malubog pa ang ekonomiya dahil sa walang kawawaang paggastos.