Despite being in the legislative mill in the House of Representatives for a total of just 18 calendar days, the proposed Maharlika Investment Fund (MIF) underwent a lot of revisions and fine-tuning.
Despite being in the legislative mill in the House of Representatives for a total of just 18 calendar days, the proposed Maharlika Investment Fund underwent a lot of revisions and fine-tuning.In fact, the measure, embodied in House Bill No.6608, received numerous amendments–21 in all–during the period of individual amendments from congressmen. This preceded the bill’s approval of second reading, and subsequently on third and final reading, on Thursday, Dec. 15.
3.On the objectives, we emphasized that the main object of the fund is “to promote economic development by making strategic and profitable investments in key sectors”. b.activities and investments related to, and corporations involved in the production of cluster munitions, nuclear arms, intercontinental ballistic missiles, and similar technologies and equipment;
15.While professional and technical services are exempt from the Procurement Law, we inserted a qualifier that the procurement of such shall still undergo competitive selection 18.The external auditor will be engaged annually instead of for a three-year term, consistent with good corporate governance rules
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