Groups hold protests after Maharlika Investment Fund bill signed into law

Several groups staged rallies as they protested the signing of Maharlika Investment Fund (MIF) bill into law on Tuesday.

Kabataan Party-list and its supporters gathered in Mendiola as they lamented that the P500 billion fund for MIF should have been allocated to education, agriculture, and health instead, calling the MIF a “scam”.

“Nagtipon-tipon ang mga kabataan sa Mendiola upang tutulan ang pagpirma ni [President Ferdinand “Bongbong” Marcos Jr.] sa Maharlika Investment Fund,” it said in a Facebook post.

(The youth sector gathered in Mendiola to oppose the signing of the MIF by Marcos.)

“Minadali ni Marcos Jr. ang pagpirma nito upang makapagnakaw pa ng mas malaking pondo at isugal ang 500 bilyon na pondo ng ating bansa kaysa ilaan ito sa edukasyon, agrikultura, kalusugan, at iba pang pangangailangan ng mga Pilipino,” it added.

(Marcos rushed the signing so he could rob more funds and gamble the P500 billion funds instead of allocate it to education, agriculture, health, and other needs of Filipinos.)

In a Facebook post, Anakbayan said more youth organizations joined the protests in Mendiola to express their opposition against the new law.

On Tuesday morning, Marcos signed into law the MIF bill which will tap state assets for investment ventures to generate additional public funds.

Republic Act No. 11954 was signed despite apprehensions and concerns on the measure, with some lawmakers pointing out the MIF bill's glaring errors and discrepancies as well as its ambiguous provisions. —Joviland Rita/KG, GMA Integrated News