Financial Digest

Maharlika fund implementation suspended 'for further study': Palace

  • 📰 ABSCBNNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 83%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

In a statement to reporters, Executive Secretary Lucas Bersamin said the President wants to conduct a thorough study on the sovereign investment fund's implementation.

MANILA — President Ferdinand Marcos, Jr. has suspended the implementation of the Maharlika Investment Fund, Malacañang said on Wednesday. "He wanted to study carefully the to ensure that the purpose of the fund will be realized for the country's development with safeguards in place for transparency and accountability," Bersamin said.

A Palace memorandum on the matter dated Oct. 12 to the heads of Bureau of Treasury, Land Bank of the Philippines, and the Development Bank of the Philippines to suspend the implementation "pending further study thereof." It also told them to "notify all concerned heads of departments, bureaus, offices and other agencies of the executive department, including s of such action."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Marcos suspends Maharlika fund implementation — PalacePRESIDENT Ferdinand Marcos Jr. suspended the implementation of the Maharlika Investment Fund (MIF) this year pending further study, Malacañang announced on Wednesday.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Maharlika IRR implementation suspended pending further study, says DBP headThe enforcement of the implementing rules and regulations of the Maharlika Investment Fund (MIF) was ordered suspended pending further study, the Development Bank of the Philippines said.
Source: gmanews - 🏆 11. / 68 Read more »