MSOpinion Passage of MIF before Xmas break assured “The main objection against the GSIS and the SSS inclusion was the use of their pension and contribution funds for the MIF, which leaves only the Land Bank and the DBP as a source of the fund”
When the House Bill proposing the creation of a Sovereign Wealth Fund first came out, I did not comment on it either negatively or positively following so much opposition on whether we should have it or not.
But this has been been reduced to P110 billion with the exclusion of the GSIS and the SSS, and another P25 billion from the national budget to include only the Land Bank, the Development Bank of the Philippines, Pagcor’s excess funds and Bangko Sentral’s profits which answers one of the main objections of the proposed MIF.
Since the bill was proposed by House Speaker Martin Romualdez and the President’s son, House Deputy Majority Leader Ilocos Norte Rep.
As DA secretary, BBM has laid the groundwork for food security for the next six years of his administration.And the President’s frequent travels abroad have assured the Philippines, not only the foreign investors, to provide more jobs as he invites more and more investors with his mantra that the “country is open for business”.
In his six months as DA secretary, I am sure BBM is fully aware to what extent the continuous smuggling of all kinds of agricultural products can be a big threat to food security. I also cannot understand why the President is lukewarm in having the DDR a priority when he knows full well that the Philippines has been listed as one of the top countries in the world that are prone to calamities and disasters in the amount of billions of money lost.
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