MAHARLIKA FUND IRR FINALIZED – PBBM

THE organization of the corporate structure of the Maharlika Investment Fund (MIF) is now underway after its proponents have finalized its Implementing Rules and Regulations (IRR), President Ferdinand R. Marcos Jr. announced on Monday.

“The Implementing Rules and Regulations of the Maharlika Investment Fund have been finalized. Upon approval, we’ll swiftly establish the corporate structure, getting the MIF up and running,” President Marcos said.

Senior Undersecretary Elaine T. Masukat and Undersecretary Rodolfo John Robert C. Palattao IV, both from the Presidential Management Staff (PMS), were present during the finalization of the IRR, along with Undersecretary Leonardo Roy A. Cervantes of the Office of the Executive Secretary (OES).

Government Service Insurance System (GSIS) general manager Jose Arnulfo Veloso was also present during the meeting, along with Office of the Presidential Adviser for Investment and Economic Affairs Mr. Raphael DC Consing Jr..

Representatives from the Bureau of Treasury, Office of the Deputy Executive Secretary for General Administration (ODESGA) and the Office of the Deputy Executive Secretary for Legal Affairs (ODESLA) also witnessed the finalization of the IRR.

Before leaving for the Association of Southeast Asian Nations-Gulf Cooperation Council (ASEAN-GCC) Summit in Riyadh, Saudi Arabia last month, the President emphasized that the operationalization of the MIF will push through before the year ends.

“We are still committed to having it operational before the end of the year,” Marcos said in his departure speech last October before leaving Manila for the two-day ASEAN-GCC Summit in Riyadh, Saudi Arabia.

The President reiterated that the organization of the MIF “proceeds at pace.”