House lawmakers pushing for the creation of a sovereign wealth fund introduced "refinements" to the controversial bill in response to simmering public backlash.
The good news is, they have backtracked. Rep. Stella Quimbo announced that they have decided to drop SSS and GSIS as sources of funding for the proposed Maharlika Sovereign Wealth Fund.
There they go again – treating our SSS and GSIS pension money as theirs. Admin appointees are plunking our contributions into a “Maharlika sovereign wealth fund.” The Congress supermajority is steamrolling its passage.
Four of the country’s top-performing government financial institutions yesterday backed the passage of a House bill seeking the creation of the Maharlika Wealth Fund.
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