DON’T TOUCH OUR PENSION FUNDS! DON’T MESS WITH OUR TAXES! SAY NO TO THE MAHARLIKA INVESTMENT FUND BILL!
Everyone is invited to join the protest action tomorrow, May 23, at 9:30 a.m. at the Senate grounds to call on senators to reject the Maharlika Investment Fund bill. The bill is scheduled for approval on 2nd reading this week.
Currently, the Senate’s version of the MIF bill allows the GSIS, SSS and Pag-Ibig to invest workers pension and housing funds in the MIF. This was removed from the House version after the initial public outcry last year.
The Senate also increased the MIF’s capital to P500 billion, to include P50 billion from the Land Bank, P25 billion from the Development Bank of the Philippines, P50 billion from PAGCOR and other government-owned or regulated gaming operators, as well as proceeds from the sale of government assets including sequestered assets, investments of other government agencies and corporations, private sector investments, and “other sources” of government funding to include royalties and special assessments.
As it is, the half-a-trillion MIF is emerging as Malacañang’s parallel funding mechanism exempt from Congressional scrutiny, making it vulnerable to much abuse and corruption.
For tomorrow’s protest, please feel free to bring your own placards and similar materials expressing your sentiments on the MIF bill. #
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