FORMER PH VP LENI ROBREDO AND CALGARY CON GEN ZALDY PATRON AMONG UP GRADS TO RECEIVE DISTINGUISHED ALUMNI AWARDS; PRES. MARCOS, JR. MUST LISTEN TO 24 PH Ds FROM UP ABOUT MAHARLIKA INVESTMENT FUND; PAFCOM PARADE IN JERSEY CITY ON JUNE 25
I'm writing this on the eve of my birthday . Pardon me. We will let our readers who may be interested to know my age do a little math. I was born 11 months and 18 days after the United States restored Philippine independence on July 4, 1946. Restored, because the PH had been an independent country since June 12, 1898 when Gen. Emilio Aguinaldo and his army ousted the Spaniards from their over 3 centuries grip on the PH.
As I observe my birthday, I feel happy and blessed because of three reasons: 1. Because my five good-looking young 'apos' , all boys, are showing signs that, in the future, they can be what they want to be. Seth finished his home school kindergarten year with grades of both A in Kinder Literacy and Kinder Math. In percentage, Seth received 99% each in both subjects. See his grades from the school posted below; 2. Because of my responsible and thoughtful children and children-in-laws; 3. Because of my age, I am now permanently exempted from jury duty by virtue of a Statute by the NJ State Assembly.
Thank you Lord for your blessings.
Congratulations to Former PH VP Leni Robredo and Calgary, Canada PH Consul General Zaldy Patron. The two are among the University of the Philippines Alumni Association Awardees for 2023. Well-deserved awards.
Atty. Maria Leonor Gerona Robredo is one of two awardees for Most Distinguished Alumna/Alumnus.
ConGen Patron will receive Most Distinguished Alumnus Award in Foreign Service.
The ex-VP graduated from Diliman, while the ConGen, from UP Los Banos.
With humility, I cannot help recalling a similar award accorded to yours truly by the UP Alumni Association in America some years back as Distinguished Alumnus in Journalism. I graduated with BA in Political Science from UP Diliman.
The UP School of Economics came out with a discussion paper about Maharlika Investment Fund, authored by 24 PhDs and a lawyer from UP. Title of the paper: Maharlika Investment Fund: Still Beyond Repair
Sharing the group's finding:
We find that the MIF violates fundamental principles of economics and finance and poses serious risks to the economy and the public sector — notwithstanding its proponents’ good intentions.
● First, the raison d’être of the Maharlika Investment Fund remains unclear even as it has already hurdled both houses of Congress.
● Second, due to its confused goals, the MIF bill does not adequately articulate and take account of several implications of the fund’s dual-bottom line objective.
● Third, the manner of funding the Maharlika Investment Fund poses huge risks to our already strained public coffers and is vulnerable to moral hazard.
● Fourth, red flags abound in the MIC’s governance structure.
● Fifth, with elevated global economic headwinds and uncertainties, it is unlikely that MIF will be able to “crowd-in” investments and eke out returns that are large enough for the fund to grow substantially to finance development projects.
● Sixth, the preoccupation with this defective proposal has diverted attention from more vital and urgent national agenda that the administration itself has rightly identified, notably the need to reform the retirement and pension system for military and uniformed personnel.
In view of the foregoing, we call upon President Marcos to seriously reconsider the final approval of the Maharlika Investment Fund bill, and present before the public a clear and solid rationale for setting it up in the first place.
Read the full paper here: https://econ.upd.edu.ph/.../ind.../dp/article/view/1551/1035
My commentary: For the sake of the native country and its people, Pres. Marcos, Jr. should seriously consider the above position paper before signing the MIF into law because if he does not and MIF fails or gets corrupted, the Filipino people themselves may likely cut their patience again and act, like what they did to his father and his family, in 1986.
In my family, we have only 2 PH Ds. But, when they speak on something controversial, we listen most of the time. This study from UP is authored by 24 PH Ds! The President better open his ears.
On Sunday, June 25, will be the much-awaIted annual PAFCOM Parade and Cultural Program at West Side Avenue and Lincoln Park in Jersey City.
Come on down!