Senator Alan Peter Cayetano on Wednesday reiterated his proposal for the government to kickstart an infrastructure investment fund as an alternative to the controversial Maharlika Investment Fund (MIF) to help finance future economic development in the country.
The independent senator made the comment as the MIF Bills – House Bill No. 6608 and Senate Bill No. 1670 – were referred to the Committee on Banks, Financial Institutions, and Currencies instead of the Committee on Government Corporations and Public Enterprises which he chairs.
“Why not have a platform for Juan dela Cruz where they can invest in these projects and get a board seat? With that, you have the same result as the Maharlika Investment Fund with safeguards,” Cayetano said as the Senate began deliberations on the proposed MIF bills on Wednesday, February 1, 2023.
He pointed to infrastructure projects like skyways and highways that have been making money for their investors. “So far wala pa akong nakikitang nalugi sa mga projects na ganyan,” he said, adding the government can choose to invest in these rather than in overseas opportunities.
With multiple criticisms lodged against the MIF, Cayetano said it is important that the Senate deliberations take note of the people’s sentiments on the controversial bill.
“There’s a lot of opportunities to discuss on this issue. Sa stock market, for example, the sentiments of people can cause a rise and fall. Maraming bullish sa Maharlika Investment Fund, pero marami ring negative sentiments. Kahit maganda ang programa, marami pa ring nagdududa kung ano talaga ang intentions nito,” the independent senator said.
Cayetano said he is interested in making more opportunities for Fiipinos to invest in the country’s infrastructure projects.
“In the long term, let’s just try to make more opportunities for all Filipinos and the private sector,” he said.