Philippines

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An abandoned community for the Philippines and all things Filipino! 🇵🇭

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Support ba kayo sa Maharlika Fund? Thoughts? (self.philippines)

submitted 1 year ago by wabafee to c/philippines

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Now that the Maharlika fund bill is waiting for the president's signature. Was curious what c/Philippines think of it in general. Personally I don't support it, it feels like we sign on something very sketchy it has pork barrel-ish feel to it. I feel concern for the banks e.g. Landbank who will be forced to invest which risk government employees source of salary. I don't understand why they want it now, when we are debt ridden.

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[–] decadentrebel 11 points 1 year ago

I have no idea why the president (I don't care if it's BBM or Raul Roco) considers a sovereign wealth fund urgent, so I'm inclined to oppose it on that reason alone.

Another major factor as to why I'm against is that, historically, we haven't really punished corruption too well. Kaya despite these safeguards Tulfo and Padilla have naively tucked in (including Risa and Koko kahit di sila in favor), it will never put my mind at ease.

Feel ko down the line, someone will be revealed to be raiding the coffers with some big names benefiting, but the only one who goes to jail is the no-name accountant.