During her interpellation, Hontiveros pointed to what she called a "backdoor provision" in Senate Bill No. 2020 which provides that “other government financial institutions government-owned and -controlled corporations may invest into the MIF, subject to their respective investment and risk management strategies and approval of their respective boards.”
Hontiveros expressed concern over the provision, saying the board members of the GSIS and SSS are presidential appointees. “I will not comment on the strategies of the GSIS, but I could speak for the competence of those managing GSIS. Kung kinakabahan tayo sa ating appointees, ako, di ako kinakabahan,” Villar said.
“It is something that they are not prohibited from doing, which I don’t think they should be prohibited from making any kind of investment that may be beneficial to their members,” he added.
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