At a recent Senate hearing on the proposed 2023 budget of the Department of the Interior and Local Government (DILG), Senate Minority Leader Aquilino “Koko” Pimentel III was aghast to find a P1.084-billion allocation to “assess and evaluate” the activities of the controversial National Task Force to End Local Communist Armed Conflict (NTF-Elcac). This year, P400 million was given for the same task, which Pimentel noted did not even involve giving financial aid to or identifying
Our neighbor, Indonesia launched their sovereign wealth fund in February 2021 with a seed capital of just $5.4-B. Now after a year, it has ballooned to $24.5 after foreign investors took interest in their efforts to build toll roads. Just last month, Singapore’s GIC and the Abu Dhabi Investment Authority has invested more than $20-B to fund airports, seaports also in water and logistics sectors, and digital infrastructure industry that includes fiber optics and data centers. In their launch last year, inaugural president director Ridha Wirkusumah of the Indonesia Investment Authority, or INA revealed , that this was their initial strategy
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