Premature flak
The misinformation is gathering pace, even with the so-called fact checkers who can feed the public fake news by just assuming the self-appointed role.
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Daily TribuneThe misinformation is gathering pace, even with the so-called fact checkers who can feed the public fake news by just assuming the self-appointed role.
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Vicious noise makers are targeting Sandro Marcos, who co-authored the Maharlika Wealth Fund Bill, as making false claims, particularly about the Indonesia Investment Authority or INA.
Fact-checkers have swarmed the President's son saying he bloated the size and strength of Indonesia's money pool.
A self-styled fact checker even claimed that UNA has a small earning of $1.4 million in its first year.
Recently, former Cabinet members of the underspending Disbursement Acceleration Program era assailed the creation of the Maharlika Wealth Fund saying the country is not prepared for it.
The marching orders from the overlords of the hypocrites are aimed at bringing down the MWF effort since it is another potential threat to the superpower's economic hegemony.
China has been flexing its financial muscle through its state funds in buying up mostly floundering US assets that in turn create insecurities in the only global superpower.
Finance Secretary Benjamin Diokno said most of the criticisms thrown at the proposal, which is still undergoing House proceedings, came from those who have not read the bill.
The misinformation is gathering pace, even with the so-called fact checkers who can feed the public fake news by just assuming the self-appointed role.
Even news wire service Reuters vouched for Sandro's figures. The young Marcos must have been encouraged by President Joko Widodo to strive for the creation of a wealth fund during his recent visit to Jakarta.
Reuters reported that INA has garnered more than $20 billion of co-investments from funds including Singapore's GIC and Abu Dhabi Investment Authority, and is actively looking at infrastructure assets.
Based on the Indonesian experience with the fund, which was originally intended to harness financial surpluses mainly from oil royalties, it can be an effective catalyst for investments.
The President indicated that the MWF will be an investment vehicle that would help the government raise funds for its projects instead of increasing taxes or acquiring more debts.
The report said Indonesia's youthful population, abundant natural resources and its position as the region's largest economy is attractive to investors but poor infrastructure, red tape, and corruption have hindered investments.
The Philippines shares the demographic sweet spot with Indonesia but Filipinos have the distinct advantage of being well-versed in the English language which is the business dialect in the region and elsewhere.
Sandro's father, President Ferdinand "Bongbong" Marcos Jr., has appealed to the critics of MWF to allow the bill to be perfected before raising their pointless rants.
"Let's not debate until we see the final form because we could be debating about provisions that no longer exist," he said.
The continuous and unusual flak that the bill has been getting despite the refinements that it had undergone to the point of dilution speaks of the weight of propaganda invested into the partisan offensive.
