Sen. Grace Poe on Monday expressed support for the plan to sell government assets to fund the Maharlika Investment Fund (MIF).
Poe, chairperson of the Senate committee on public services, said she agrees with the plan, adding that “they are called assets but some are nonperforming or problematic, riddled by corruption and mismanaged, thus may be handled better by the private sector.”
However, Poe said the sale of these assets should be transparent, particularly in the bidding process. She noted that the buyers’ credibility should be considered and that proceeds of the sale should be accounted for and should directly go to the intended fund.
Poe further cited the assets by the Philippine Gaming Corporation (PAGCOR), which she said is “a regulator and should not be running a casino.”
“They should sell those casinos run by PAGCOR,” she said.
According to the senator, the sale can be a windfall for the country and poses no risk to the public.
“Unlike if initial investments are sourced from government reserves which is not only wrong but dangerous,” she added.
The Senate committee on banks and financial institutions, chaired by Sen. Mark Villar will conduct its first hearing on the MIF on Wednesday.
Among those invited to the hearing are Finance Sec. Benjamin Diokno, BSP Gov. Felipe Medalla, Budget Sec. Amenah Pangandaman, NEDA Sec. Arsenio Balisacan and national treasurer Rosalia de Leon.
Senate President Miguel Zubiri said they can tackle the MIF until the session adjourns in March for the Holy Week. They can already debate and vote on this on this in the plenary, he said.