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Senate to fastrack Maharlika Bill passage after being certified as urgent

Courtesy of: Senate of the Philippines

Senators vowed to fast track the passage of the controversial Maharlika Investment Fund bill after President Bongbong Marcos certified the measure as “urgent”.

The bill is under the scrutiny of the senators over concerns on the proposed bill.

“The plan is to approve it by 2nd and 3rd reading next week. We are accommodating the last few members who want to interpellate on Monday then we can open the period of amendments immediately after,” Senate President Migz Zubiri said.

“As a certified measure we can close and approve the bill in that same week,” he added.

The House of Representatives passed the controversial measure last year despite concerns on its funding and who will handle the new investment fund.

“Hopefully, the House can adopt our version which we improved with more safeguards in place to avoid possible misuse,” he said.

Marcos said in his letter that there is a “compelling need for a sustainable national investment fund” amid “the downgrade of the global growth projection”.

Staff Report

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