GSIS, SSS may invest in Maharlika projects—Diokno, Nat’l Treasurer

WHILE the Government Service Insurance System (GSIS) and the Social Security System (SSS) are barred from investing in the Maharlika Investment Corp. (MIC), they may invest in its projects, the government’s top economic officials said Monday.

In a press briefing, National Treasurer Rosalia de Leon addressed fears that if the Maharlika Investment Fund (MIF) loses money, the pensions of state and private workers would be put at risk.

“It’s prohibited [for the SSS and GSIS to invest in the MIF] directly and indirectly,” De Leon said in a mix of Filipino and English.

But De Leon and Finance Secretary Benjamin Diokno both said the two pension funds may invest in projects, but not in the MIC itself.

They added that a risk management

FOR INDEPENDENCE DAY. The Bangko Sentral ng Pilipinas displays the commemorative coin set for the 125th Anniversary of Philippines Independence at the Ceremonial Hall of Malacañan Palace on Monday. Meanwhile, the Philippine Postal Corp. also unveiled two designs for commemorative stamps for the occasion (inset photos). Alfred Frias, Philpost photos