“Ang basic definition ng isang sovereign wealth fund ay may surplus na kayamanan ang isang bansa. Ang tanong ngayon ay may tunay bang sobra ang Pilipinas upang ilagay sa fund na ito?”
The Maharlika Fund was just passed by the House of Representatives, and is now pending for debate in the Senate. This bill has been very controversial and has met heavy opposition because of its contentious source of funds, risks for corruption, and delicate timing given the recent wealth fund scandal in Malaysia and a looming economic recession brought by the pandemic.
In this new episode, Fr. Tito Caluag and his trio of distinguished thinkers—Manolo Quezon, Leloy Claudio, and Carlo Santiago—talk to Filomeno Sta. Ana, co-founder and coordinator of policy research and advocacy group Action for Economic Reforms, to help us understand what this fund really is about. In a time of extreme volatility, is the Maharlika Fund something that our country needs? As tax payers, how can we be more informed and critical about policies that will not just affect us, but the generations that will come?
“Sa buhay, ’di maiiwasan ang risk. Pero pera natin ang gagamitin dito bilang mga taxpayer. Kaya may karapatan tayong magtanong at alamin ano ba talaga ang gustong gawin ng Maharlika Fund.”