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'Earning guarantees' eyed in Maharlika fund

SEN. Francis 'Chiz' Escudero, on Friday, called for more 'earning guarantees' in the Maharlika Fund bill, which would allow the sovereign fund to surpass the 6 percent income threshold that two state-owned banks presently earn from their investments.

Escudero warned that without 'benchmark in yields,' the billions the Land Bank of the Philippines (LandBank) and the Development Bank of Philippines (DBP) will be forced to put in the Maharlika Investment Corp. (MIC) will be earning less than their present return on investment (ROI).

SEN. Francis "Chiz Escudero. CONTRIBUTED PHOTO