Senate Minority Leader Koko Pimentel is urging President Bongbong Marcos to veto the proposed Maharlika Investment Fund which has already passed both houses of Congress.
Pimentel warned that the bill which is up for Marcos’ signature is not acceptable in its current form. The senator said that Marcos should return the bill to Congress for rectification.
“The bill, in its current form, is not acceptable. I am calling on the President to exercise his veto power and return the measure to Congress,” Pimentel said.
“It is in the best interest of the Filipino people and the administration if the measure is sent back to Congress, so we will have the chance to take a second look at the measure in order to address the concerns raised by many sectors,” Pimentel added.
The senator also called the MIF as an “ill-conceived” legislation and is “full of opaque provisions, contradictions, ambiguities, and loopholes”.
“By returning it to Congress, it will allow us to resolve conflicting provisions and add more safeguards to protect the funds and foster transparency and accountability,” Pimentel said.
The senator said that the MIF could not withstand the scrutiny of the Supreme Court should the law be questioned before it.
“The MIF can be challenged before the courts and for those planning to do this, I will make myself available as a source of some facts, information and arguments,” he said.
