DOF sees MIC operational before yearend | Jasper Y. Arcalas

THE Finance Department expects the Maharlika Investment Corp. to be operational before the end of the year as President Marcos Jr. is on track to sign into law the Maharlika Investment Fund before his second State of the Nation Address .

National Treasurer Rosalia V. De Leon said the national government would be “very aggressive” in generating global attention to generate more funding for the MIF. He emphasized that the investments must be made by GSIS or SSS directly into the projects and not into the equity of the MIF. Senators explicitly included a provision in the MIF bill that state pension funds like GSIS and SSS—as well as the Philippine Health Insurance Corp., Home Development Mutual Fund, Overseas Workers Welfare Administration and Philippine Veterans Affairs Office—cannot invest directly or indirectly in the MIF and MIC.

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