Economists, businessmencite Maharlika fund risks

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Economists, businessmencite Maharlika fund risks - Business Mirror

Quick Summary:

ECONOMISTS and business executives representing several institutions reiterated their warnings against the creation of a government investment fund as it is "fundamentally flawed” and unable to attain the economic goals it has set out to accomplish.

TO provide relief to companies, which are still reeling from the effects of the pandemic, the Employers Compensation Commission (ECC) lowered the penalty for delinquent Social Security System (SSS) and Government Service Insurance (GSIS) contributors.

THE groups added that the provision in the proposed MIF Act “compromises the BSP’s autonomy, independence and ability to deliver on its price and financial stability mandates.