THE newly signed law, Maharlika Investment Fund (MIF) Act of 2023, took a spotlight in the protest action conducted by different progressive groups on Monday, July 24, 2023, ahead of the second State of the Nation Address (Sona) of President Ferdinand “Bongbong” Marcos Jr.
The People’s Sona 2023, which was presided over by various groups including the Bagong Alyansang Makabayan (Bayan), Gabriela, Karapatan, Kilusang Mayo Uno and Pamalakaya Pilipinas, along the stretch of Commonwealth Avenue in Quezon City centered in the theme “Dagdag na Sahod, Kabuhayan at Pagkain sa Mesa! Itigil ang Karahasan! Kapakanan ng Masa, Hindi Maharlika.”
Protesters brought and burned several effigies of Marcos, as well as Vice President Sara Duterte-Carpio, including a giant "doble kara coin" featuring a two-faced Marcos, one of which claims that he is robbing the country.
'Corruption'
In a statement, the Gabriela Women’s Party tagged Maharlika as a “scam” that can worsen corruption in the country.
The group slammed Marcos for rushing to sign the MIF bill into a law instead of addressing inflation, particularly the continuous increase in prices of basic commodities that badly affects the Filipino families.
Bayan said among the issues that the administration should have addressed first before the Maharlika are the wage hike for the laborers, hunger, poverty, impunity and national sovereignty.
It said the state of the economy is not as “glossy and bright” as is being projected by the government.
“It is important to take a critical look at the so-called achievements of the Marcos Jr. administration from the lens of ordinary people who are most affected by his policies. The ruling elite are expected to give multiple standing ovations to Marcos inside the Batasang Pambansa, but ordinary folks feeling the brunt of the crisis have other things in mind,” Bayan said.
Bayan said the Marcos administration “excelled” in reviving images and programs associated with the late “dictator” Ferdinand Marcos Sr., citing the Bagong Pilipinas campaign that was derived from the late President’s Bagong Lipunan.
“Masagana 99 and Green Revolution have been used as the slogans for agriculture programs. It seems that for every program, there is a conscious effort to link this to and glorify the Marcos dictatorship,” it said.
Agriculture
Agriculture groups were also calling for support from the government as well as against destructive reclamation projects.
The MIF is aimed at optimizing the country’s national funds by generating returns to support the Administration’s economic goals.
The seed capital of the MIF will be sourced from the Landbank of the Philippines (P50 billion), Development Bank of the Philippines (25 billion) and the national government (P50 billion).
The contribution from the National Government will come from the Bangko Sentral ng Pilipinas' total declared dividends, national government's share from the income of Philippine Amusement and Gaming Corporation (Pagcor), properties, real and personal identified by the Department of Finance (DOF)-Privatization and Management Office and other sources such as royalties and/or special assessments.
The funds will be used to invest in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, commercial real estate, and infrastructure projects.
According to the Quezon City Police District, around 5,500 rallyists joined the anti-Sona protest action, which ended shortly before 2 p.m.
'Right track'
Meanwhile, meters away from the Batasang Pambansa where Marcos will deliver his Sona, his supporters also held a program.
Marlon Mendoza, chairman of One Movement, said they are confident that the administration is on the right track in achieving its goals.
“Sa aming paniniwala, hindi nagbabago. Kung 100 percent kami, buong buo kaming sumusuporta sa kanya noon, hanggang ngayon ay mataas pa rin ang rating dahil yun pa rin ang paniniwala at umaasa kami na makakamit namin yung tagumpay na hinahangad niya sa sambayanang Pilipino kaya ang grado na binigay ko talaga ay 99.9 percent,” he said.
(In our belief, it does not change. If we were 100 percent fully supportive of him before, until now, his approval rating remains high because that is still our belief, and we hope that we will achieve the success he desires for the Filipino people. That's why the grade I gave is really 99.9 percent.)
Joseph Pulilan, chairman of Kilusang Bagong Lipunan, urged anti-Marcos groups to be more patient as the administration had just been in office for a year.
Philippine National Police chief Benjamin Acorda Jr. said so far, events related to Sona are relatively peaceful with no untoward incident.
The PNP has deployed over 22,000 policemen and force multipliers to ensure peace and order during Sona. (SunStar Philippines)