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Advocates Philippines
Period Of Interpellation For Maharlika Bill Begins
Sen. Mark Villar. Senate PH File
Manila, Philippines - Senate Bill No. 2020, also known as the Maharlika Bill, filed by Senator Mark Villar, has entered the period of interpellation in the Senate. The bill, which aims to create the Maharlika Investment Fund, has garnered significant attention and is now undergoing a thorough examination by fellow senators.
Senator Mark Villar expressed his satisfaction with the ongoing discussions, stating, "Maganda po na madiscuss natin ang mga concerns ng ating mga kapwa senador. From the start, we always wanted to scrutinize this bill. No better way to accomplish that than by entertaining questions from our colleagues."
Villar, a staunch advocate of the bill, remains committed to its ideals and objectives. Drawing from his deep understanding of the challenges faced by the nation, he has tirelessly worked to ensure that this legislation empowers the people, promotes fairness and equity, and paves the way for a prosperous future for all Filipinos.
During the interpellation, Senator Villar highlighted the potential benefits of the Maharlika Investment Fund, citing the example of the Norway Wealth Fund. "One of the worst at one point was the first half of 2022 for the Norway Wealth Fund, which incurred high paper losses. But then again, when you analyze it over an extended period, let's say over 10 years, the overall return for the government surpasses that period of losses," explained Villar.
He further expressed confidence in the safeguards included in the Maharlika Bill, ensuring a good rate of return for the government. "I believe that the Maharlika has enough safeguards to ensure that we will achieve a good rate of return for the government," Senator Mark Villar added.
Senator Villar emphasized the significance of thorough scrutiny during the legislative process. He believes that engaging in discussions and addressing concerns raised by fellow senators is essential to deliver a well-crafted and impactful law.
"The ongoing process of interpellation highlights the Senate's commitment to deliver a well-crafted and impactful law. By engaging in open discussions and collaboration, we are emphasizing the importance of a thorough examination of the Maharlika Bill. We must take the necessary time to analyze its provisions, address concerns, and ensure that the legislation we pass truly serves the best interests of the Filipino people," stated Senator Mark Villar.
Several senators, including Sen. Bato Dela Rosa, Sen. Grace Poe, Sen. Raffy Tulfo, and Sen. Loren Legarda, have already participated in the interpellation process. The period of interpellation is expected to continue today, Wednesday, as the Senate remains committed to a comprehensive review of the bill.
As the interpellation progresses, senators aim to address concerns, gather more information, and collaborate to ensure that the Maharlika Bill, if enacted into law, will effectively serve the Filipino people and contribute to the country's economic growth and development.
Senator Mark Villar expressed his satisfaction with the ongoing discussions, stating, "Maganda po na madiscuss natin ang mga concerns ng ating mga kapwa senador. From the start, we always wanted to scrutinize this bill. No better way to accomplish that than by entertaining questions from our colleagues."
Villar, a staunch advocate of the bill, remains committed to its ideals and objectives. Drawing from his deep understanding of the challenges faced by the nation, he has tirelessly worked to ensure that this legislation empowers the people, promotes fairness and equity, and paves the way for a prosperous future for all Filipinos.
During the interpellation, Senator Villar highlighted the potential benefits of the Maharlika Investment Fund, citing the example of the Norway Wealth Fund. "One of the worst at one point was the first half of 2022 for the Norway Wealth Fund, which incurred high paper losses. But then again, when you analyze it over an extended period, let's say over 10 years, the overall return for the government surpasses that period of losses," explained Villar.
He further expressed confidence in the safeguards included in the Maharlika Bill, ensuring a good rate of return for the government. "I believe that the Maharlika has enough safeguards to ensure that we will achieve a good rate of return for the government," Senator Mark Villar added.
Senator Villar emphasized the significance of thorough scrutiny during the legislative process. He believes that engaging in discussions and addressing concerns raised by fellow senators is essential to deliver a well-crafted and impactful law.
"The ongoing process of interpellation highlights the Senate's commitment to deliver a well-crafted and impactful law. By engaging in open discussions and collaboration, we are emphasizing the importance of a thorough examination of the Maharlika Bill. We must take the necessary time to analyze its provisions, address concerns, and ensure that the legislation we pass truly serves the best interests of the Filipino people," stated Senator Mark Villar.
Several senators, including Sen. Bato Dela Rosa, Sen. Grace Poe, Sen. Raffy Tulfo, and Sen. Loren Legarda, have already participated in the interpellation process. The period of interpellation is expected to continue today, Wednesday, as the Senate remains committed to a comprehensive review of the bill.
As the interpellation progresses, senators aim to address concerns, gather more information, and collaborate to ensure that the Maharlika Bill, if enacted into law, will effectively serve the Filipino people and contribute to the country's economic growth and development.
May 17, 2023
