Dear fellow citizen-petitioners,

A new substitute bill on the Maharlika Fund is now circulating in Congress.

While the bill has removed SSS and GSIS as sources for the Maharlika Fund's initial capital, the same substitute bill will still allow the SSS and GSIS boards to invest in the fund after the fund is created.

Ibig sabihin, parang nilinlang lang nila tayo at tinatangkang pahupain ang galit natin para mailusot nila ang bill.

They have also removed financial derivatives among the priority investments - which is a good thing because we oppose investing on high-risk financial derivatives which caused the 2008 global financial crisis. However, the Maharlika Fund's board may still invest on such and other schemes because of a catch-all provision that gives the board the power to decide on other types of investments that they would like to enter into.

Delikado pa rin ang pera ng taumbayan dito. Ituloy natin ang pagpapapirma ng petisyon. 

Let us also reach out to our district representatives to express our opposition to House Bill 6398 or any other measures similar to it.

Let us also join protest rallies if we can.

Mamayang 7-8pm ng gabi ay may talakayan din tayo sa Facebook kaugnay ng paksang "MAKABAYAN AT MAKAMASANG SOVEREIGN WEALTH FUND, Posible Ba?" Narito ang link: https://www.facebook.com/events/690206972723662/ 

Tuloy ang laban!

Sincerely.

David