Maharlika bill enters interpellation stage in Senate

Maharlika bill enters interpellation stage in Senate

MANILA — Senator Mark Villar’s proposed Senate Bill No. 2020, which seeks to establish the Maharlika Investment Fund, has commenced its period of interpellation in the Senate. The bill aims to empower the people, promote fairness, and build a prosperous future for the nation.

Senator Villar expressed his satisfaction with the opportunity to address concerns raised by his fellow senators during the interpellation process. He emphasized the importance of scrutinizing the bill thoroughly and welcomed the chance to engage in discussions.

“Maganda po na madiscuss natin ang mga concerns ng ating mga kapwa senador. From the start, we always wanted to scrutinize this bill. No better way to accomplish that than by entertaining questions from our colleagues,” Senator Mark Villar said.

Senator Villar remains committed to the objectives of the Maharlika Bill, acknowledging the challenges faced by the nation and working tirelessly to ensure its success.

“One of the worst at one point was the first half of 2022 for the Norway Wealth Fund which incurred high paper losses. But then again, when you analyze it over an extended period, let’s say over 10 years, the overall return for government surpasses that period of losses,” Villar explained.

Senator Villar expressed confidence in the safeguards present in the Maharlika Bill to guarantee a good rate of return for the government. He believes in the importance of open discussions and addressing concerns during the legislative process.

“The ongoing process of interpellation highlights the Senate’s commitment to deliver a well-crafted and impactful law. By engaging in open discussions and collaboration, we are emphasizing the importance of a thorough examination of the Maharlika Bill. We must take the necessary time to analyze its provisions, address concerns, and ensure that the legislation we pass truly serves the best interests of the Filipino people,” Senator Mark Villar stated.

Several senators, including Sen. Bato Dela Rosa, Sen. Grace Poe, Sen. Raffy Tulfo, and Sen. Loren Legarda, have already participated in the interpellation. The period of interpellation is expected to continue today, Wednesday, as the Senate remains dedicated to a comprehensive review of the Maharlika Bill.


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