Senate minority leader Aquilino 鈥淜oko鈥� Pimentel III describes the Maharlika Investment Fund (MIF) bill outrageous and asks President Bongbong Marcos to veo it for review by Congress. (Joseph B. Vidal/Senate PRIB)
MANILA, Philippines 鈥斅犅燬enate minority leader聽 Aquilino Pimentel III on Friday urged President Ferdinand Marcos Jr. to veto the Maharlika Investment Fund (MIF) bill and return it to Congress and give lawmakers more time to address the concerns surrounding it, while Senator Escudero deemed it a risky venture into the unknown.
鈥淭he bill, in its current form, is not acceptable. I am calling on the President to exercise his veto power and return the measure to Congress,鈥� Pimentel said in a statement.
Pimentel added that 鈥渋t is in the best interest of the Filipino people and the administration if the measure is sent back to Congress, so we will have the chance to take a second look at the measure to address the concerns raised by many sectors.鈥�
Citing Sen. Francis Escudero, Pimentel said the bill鈥檚 flaws result from haste and ill-conceived legislation.
Escudero has previously described the MIF as a 鈥渓eap of faith to the great unknown.鈥�
Pimentel also said that its current form, the MIF, could not withstand the judgment of the Supreme Court.
He had previously said the Supreme Court may be the next battleground for the MIF bill.聽<
鈥淭he MIF can be challenged before the courts, and for those planning to do this, I will make myself available as a source of some facts, information and arguments,鈥� he reiterated.聽