The suspension of the Maharlika fund's implementation is another sign of an upcoming Cabinet shake-up, sources tell Rappler
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According to reliable sources within government ranks, the order of Marcos is among the moving parts in an impending Cabinet shake-up.was ordered so that Marcos could look into the selection process of applicants and nominees of the Maharlika Investment Corporation , the state-run company that would manage the funds.
Nominations have since closed last September 27 and the list has already been transmitted to the President. Marcos needs to choose from that roster to appoint the MIC president and CEO, as well as directors.According to circulating rumors, Finance Secretary Benjamin Diokno is being strongly considered to head the MIC. But the source said Diokno was “naturally” not on the list, considering that other economic managers comprise the advisory body.on rumors.
With no one named to the MIC yet, alongside concerns of banks’ capital requirements, can Marcos really pitch his pet economic project?
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