Executive Secretary Lucas Bersamin is confident that the recently signed Maharlika Investment Fund bill will pass the scrutiny of the Supreme Court if various groups decide to challenge its constitutionality there.Republic Act 11954, or the Maharlika Investment Fund Act of 2023, was signed by President Ferdinand “Bongbong” Marcos Jr. on July 18 after its approval by Congress.
He gave assurance that senators nitpicked on the new law, which would create the country’s first sovereign wealth fund, since he even attended some of the hearings. “In fact, our presence there was for several hours and when the voting came, I just had myself excused but many Cabinet officials were left there so we have no doubt about the accuracy of what was going to be the enrolled bill.”
He was referring to the eleventh-hour correction on the double provisions of the prescriptive period, which became a 10-year period for crimes in the final version.
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