Maharlika bill ready for Zubiri’s signature

MANILA, Philippines — A “clean copy” of the Maharlika Investment Fund bill is now ready for signing by Senate President Juan Miguel Zubiri and later by President Marcos.

Senate Deputy Majority Floor Leader Jose Victor Ejercito announced the development at a press briefing yesterday.

“The latest I know is that an enrolled copy of the bill is ready for the signature of the Senate President, then transmit to Malacañang. That’s the latest update from (Senate) legislative bureau,” Ejercito said.

“So subject to style, numbering (etc.). That’s what will happen there, the very essence of the bill, what was approved in plenary will remain. The very essence of the bill cannot be changed,” the senator pointed out.

“One thing is for sure, in the Senate, we don’t do that (make changes to what has been approved in the plenary). Just in case we are cleaning it, fixing it, the one that was approved on the floor subject to style, that’s it, if there is any speculation that something has been replaced, that does not happen in the Senate,” he said.

But with Zubiri currently in the US on official business, Ejercito said Senate Secretary Renato Bantug may just send the enrolled bill to the Senate President who should personally sign it.

Ejercito stressed an electronic signature is out of the question for such an important bill.

“From what I know this is an important measure that’s why one of the options is for Secretary Bantug to bring the copy of the bill to SP (Senate President),” he said.

The rest of the senators would be given their own copies through email, he added.

When asked whether he is proud of the MIF bill, Ejecrito replied, “Definitely, the Senate version is much different from the original version. All safeguards and safety nets were added, and all the safeguards will be in place, that’s why it took a while at the Senate because of the deliberations. We want to make sure that the fund will be used properly. The version is much, much different because of necessary safeguards and safety nets.”

But Senate Deputy Minority Leader Risa Hontiveros said she was wondering how the Senate had resolved conflicting provisions regarding prescriptive period for crimes, set at 10 years in Sec. 50, and 20 years in Sec. 51. She stressed this could not be just typo errors as administration allies in the Senate were claiming.

“It’s not just a typo. Not that minor because the error is substantive. We will say from the beginning that the flaws of the proposed Maharlika Investment Fund are substantive,” she pointed out.

“I can’t imagine how the two provisions that are different from the prescription were fixed and approved by the Senate that was passed during the bicam (bicameral conference),” Hontiveros noted.

“I can’t quite think how to correct the process even though Sen. Francis Chiz Escudero suggested that the bill should be returned to the Senate as provided by the rules of the Senate.”