Senate votes to pass bill creating controversial Maharlika Investment Fund

MANILA, Philippines --- A heavily reconstructed version of the controversial Maharlika Investment Fund bill secured the nod of the Senate on its second and third reading, eight days after President Ferdinand Marcos Jr. had certified the measure as urgent. Straight out of the period of amendments, Senate Bill No, 2020, or the proposed "Maharlika Investment Fund Act," was approved in the upper chamber during a session that extended until the wee hours of Wednesday. It got 19 votes in the affirmative, one negative, and one abstention. Opposition Sen. Risa Hontiveros voted against the measure, while Sen. Nancy Binay abstained. The Senate explicitly banned investments in the p...

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