Retired Supreme Court Associate Justice Antonio Carpio has sounded the alarm over the proposed amendment to the Maharlika Investment Fund, which would allow it to be seeded by the dividends from the Bangko Sentral ng Pilipinas (BSP) without a termination date. This provision has raised concerns about the fund’s potential for endless dependence on BSP.
Carpio emphasized that such a setup is unsustainable and could lead to unforeseen consequences. He pointed out that the BSP should not be burdened with seeding an investment fund indefinitely, highlighting the importance of setting clear boundaries and timelines for public funds.
In contrast, President Ferdinand Marcos Jr., who supports the bill, has urged lawmakers and stakeholders to refrain from debating until the final form of the proposal is revealed. He cautioned that discussing provisions that may eventually be dropped could lead to confusion and unnecessary debate. However, Carpio’s warning highlights the need for careful consideration and oversight in establishing public funds.