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00:00.0
... Number one is the power to invest in programs and projects on health, education, research, and innovation. And then letter I, loans and guarantees too, joint ventures and consortiums. And then H, real estate and infrastructure projects."
00:24.0
... Medyo nakakatakot ito kasi palabas na iyong pera. Ang gusto niya mangyari pwedeng mag-invest ng pera na iyon, P500B, dun sa mga social welfare programs. Hindi na yan para kumita, para gumastos na yan.
00:54.0
... Ang ulit ang crony capitalism kasi kapag iyong isang korporasyon biligyan mo ng P500B and ang laki ng leeway niya para gumasto sa real estate, sa mga joint venture to fund iyong mga social welfare programs, parang magbibigay ka ng ayuda sa mga kaibigan mo na ito.
01:24.0
... Yan ang nakakatakot.
01:54.0
... So number 14, ito ang tinatawag na allowable investments. So ang H, pasok daw ang real estate and infrastructure projects. So ano ba, pakipaliwanag in simple terms, ano ba ibig sabihin niya ang Maharlika Investment Fund pwede mong invest sa real estate? How does it work?
02:24.0
... Or ng isang small city. And then kapag pumayag ka, lalagay mo iyong pera ng Maharlika Investment Fund doon in the hope na down the line over the course of 10, 20, 30 years. Kapag kumita iyong subdivision o small city na iyon, kikita rin iyong gobyerno.
02:54.0
... Kasi alam naman natin konti lang iyong mga pamilya at korporasyon na may kapasidad para mag-propose ng mga ganoon. So hindi ito international investment fund. These are basically local investments. At pag ganoon nang nangyari, medyo delikado."
03:24.0
Q1. Isa sa mga nagsusulong nito sa Senado?
03:54.0
A1. Kapag may kapasidad na mag-tap ng ganitong pera, may political ability to tap iyong ganitong kalaking pera. And number three, iyong merong capacity right now. Ilan lang naman iyong mga pamilya na iyan. Sa Senado, for example, si Sen. Villar, kaya nilang gumawa ng daan, kaya nilang gumawa ng subdivision, kaya nilang magtayo ng mga malls.
04:24.0
So it's a practical invitation for them to become a partner with the government. And when you have politicians with capacity to influence decision-making in government, making decisions to create these types of funds, medyo malinaw na may potential conflict of interest."
04:54.0
... Although hindi siyempre mabilis ang returns ito. Of course hindi nila binabangin ang risk. This is very risky. Pero talaga ba makikinabangin tao rito baka kung sakali after 20 or 30 years. Kasi hindi ganoon kadali yan at baka malugi."
05:24.0
So the clear trend is mawawalan lang ng value itong shares na ito kasi mada-dilute iyong assets ng mga kumpanya. And going back to the competence or expertise ng SIAM na miembro ng investment committee, these are political appointees, pwede mong ilagay na merong competence in investment...
05:48.0
... Eventually talagang ang overwhelming na consideration is the trust and confidence of the President. Kaya decisions here will be very political unlike for example in DBP or Land Bank or Central Bank. Of course may politics involved in their decision-making but they are institutions.
06:18.0
... Ito may political institution sa bureaucracy na pwede umangal kapag may decision na nakataas ng kilay. But for a purely political institution like the Makarlika Investment Committee, you can rest assured na ang P500B in funds na yan will be spent in a very political way dahil ang lakilan ng pera and yung discretion is so wide."
06:48.0
Q&A at in-person Q&A
09:40.0
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09:51.0
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10:08.0
Kada like, subscribe, follow, at share ay pag-suporta po sa tunay na independent journalism sa bansa. Maraming maraming salamat po.
