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I believe these are the three main issues, among others, that hound the #MarcosInvestmentFund (MIF):
1.CRISIS OF CONFIDENCE. Filipinos and foreign investors alike have a crisis of confidence on the people behind the MIF and those who will be managing it.
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1.CRISIS OF CONFIDENCE. Filipinos and foreign investors alike have a crisis of confidence on the people behind the MIF and those who will be managing it.
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They do not trust the Marcos-Romualdez political dynasty and their cronies to run the show considering the family's sordid track record of corruption and plunder. This explains why the pledges that the host countries made to FBBM in his 11 or so visits there have not been
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translated into reality. Likewise, this is the reason why there has been widespread opposition from the more enlightened sectors of Filipino society against the idea.
2.VIABILITY. The Constitution requires the test of economic viability before a GOCC could be created.
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2.VIABILITY. The Constitution requires the test of economic viability before a GOCC could be created.
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FAT CATS OF THE MAHARLIKA FUND
Under Section 12 of the #MarcosInvestmentFund law, admin costs are limited to 2% of the capital. That looks small on paper. But considering that target capitalization of the fund is in the neighborhood of ₱500B, that would amount to ₱10B.
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Under Section 12 of the #MarcosInvestmentFund law, admin costs are limited to 2% of the capital. That looks small on paper. But considering that target capitalization of the fund is in the neighborhood of ₱500B, that would amount to ₱10B.
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That's more than the combined budget of P7 Billion allocated to Lung Center of the Philippines (P835.2 M), National Kidney and Transplant Institute (P1.7 B) , Philippine Children’s Medical Center (P2.1 B), Philippine Heart Center (P2.1 B) for the year 2023.
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The more capital they are able to shake down from government institutions the more money for the salaries and emoluments for the officials of this Fund headed by Finance Secretary Diokno - who will not even be breaking sweat, considering that theirs are not full-time jobs,
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