Maharlika bill ‘high priority’ PBBM marks it as urgent so Senate can pass it before ‘sine die’

By Macon Ramos-Araneta and Vince Lopez

PRESIDENT Ferdinand Marcos Jr. certified as urgent the Senate version of the Maharlika Investment Fund Bill to ensure its passage before Congress adjourns sine die next week.

In his letter to Senate President Juan Miguel Zubiri dated May 22, Mr. Marcos tagged as high-priority Senate Bill 2020 or the proposed MIF bill.

“We will pass it next week,” Zubiri said in a text message.

Certifying the bill as urgent will allow the Senate to forgo the three-day rule as mandated by the 1987 Constitution between the proposed measure’s second and third reading.

Over the past few days, there have been daily session deliberations on the proposed MIF in the Senate.

The House of Representatives earlier passed its own version of the bill, which the President also certified as urgent.

The President cited in his letter “the downgrade of the global growth projection this year on account of debilitating inflation, fluctuating and unstable prices of crude oil and other fuels due to the protracted conflict between Ukraine and Russia, and continuing interest rate hikes in the international financial sector.”

“There is a compelling need for a sustainable national investment fund as a new growth catalyst to accelerate the