Contact Details

Rm. N-411, House of Representatives, Quezon City, Metro Manila, Philippines
+63 2 931 5497, +63 2 931 5001 local 7370

"Haste makes waste" is an appropriate aphorism for inscription on the epitaph of the Maharlika Investment Fund. 

The MIF Act was enacted with inordinate alacrity without adequate and searching studies from the President's economic advisers and congressional allies. 

Pres. Marcos, Jr. has suspended for further study the Implementing Rules and Regulations (IRR) of the MIF Act according to Executive Secretary Lucas Bersamin.

What should be suspended by the President is the entire  implementation of the law for further in-depth study for perfecting amendments, if still possible, or final repeal because current negative  economic indicators do not support the enactment and implementation of the MIF.  

Since the MIF Act bled dry the LandBank of the Philippines and Development Bank of the Philippines of their capital assets for infusion to the MIF, the two government banks suffered  depletion of their resources so much so that they had to plead for exemption from the reserve requirements of the Bangko Sentral ng Pilipinas.

No foreign investor has come to the rescue of the MIF.