The president of the Government Service Insurance System (GSIS) insists that using the funds of the agency for the proposed Maharlika Wealth Fund is not unconstitutional.
GSIS President Wick Veloso made the remarks in a media briefing on Wednesday.
“Mali po na itong ginagawa natin dito ay unconstitutional. Amin lamang pong inilalagay ang pera ng aming miyembro sa GSIS sa isang kumpanya which is part of the investing activity that we are doing at hindi po ito private property,” he said.
“Please take note that the funds that we invest are excess investible funds of GSIS, and all benefits that accrue will only go back to GSIS members… Hindi po natin gagamitin ang pera ng ating mga pensyonado,” Veloso added.
Veloso’s statements contradicts the apprehensions of some law experts and lawmakers that the funds may be at risk.
“No part of the fund accrues to non-members… Dibidendo na makukuha ng GSIS, straight mapupunta sa miyembro namin. Ganyan po ang ginagawa namin,” he said.
Veloso slammed those who question the tuming of the bill.
“Ang tanong ho nga sa akin ay kailan ba? Bakit minamadali? Alam niyo ang puntos po ay ang development po ng Pilipinas ay dapat nagsimula kahapon pa,” Veloso said.
“To set up this organization will take some time to be able to have the first investment for a project that will generate jobs,” he added.
