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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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spent monitoring the stock and bond markets while they sit back in their easy chairs as if watching paint dry.
Do you think these fat cats deserve to have more than the doctors and nurses of government hospitals who sacrifice their blood, sweat and tears
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Do you think these fat cats deserve to have more than the doctors and nurses of government hospitals who sacrifice their blood, sweat and tears
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to serve the sick and save lives?
The #MIF is just one feeding trough filled from an overflowing pork barrel.
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Ctto: FB Atty. Wilfredo Garrido
The #MIF is just one feeding trough filled from an overflowing pork barrel.
5/5
Ctto: FB Atty. Wilfredo Garrido
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