Senator Mark Villar’s dedication to the passage of the Maharlika Investment Fund law has not gone unnoticed.
Bilyonaryo and former Senator Manny Villar has expressed joy and pride over his son’s latest achievement.
The law creating the government’s first ever sovereign wealth fund was signed by President Ferdinand Marcos Jr. on Tuesday in Malacañang. Senator Mark is the principal author and sponsor of the controversial bill that seeks to tap surplus revenues or reserves to invest in financial and real assets.
Taking to Instagram, the elder Villar posted a congratulatory note for his son for pushing for the passage of the Maharlika Investment Fund bill. He also urged Senator Mark to persist in his efforts to propel the country’s progress.
“Today, Pres. Bongbong Marcos has signed the Maharlika Investment Fund (MIF) Act of 2023 into law. I congratulate all the proponents of the measure, especially my son, Sen. Mark Villar who shepherd the bill at the Senate during its final reading,” the elder Villar said.
“I’m proud of you, son! Continue your hard work to help our nation progress for our kababayans,” he added.
Senator Mark also hailed the new Maharlika investment law and its impact on the country’s economic growth. He attended the signing ceremony at the Palace.
“Batas na po ang Maharlika Investment Fund Act! This will surely drive economic development in our country and provide more jobs to the Filipino people,” he said.
Despite the celebratory atmosphere over the Maharlika law, some groups including economists have voiced criticism on the controversial bill. Some were concerned about the measure due to lack of fiscal space, soaring debt level, and fears of mismanagement and corruption.
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