Senate Minority Leader Aquilino "Koko" Pimentel on Thursday said President Ferdinand Marcos would be abusing his powers by certifying as urgent House Bill 6608, which seeks the creation of the Maharlika Investment Fund.

"If the President issues the certification then this is clearly an abuse already of presidential prerogatives and powers," Pimentel said.

"Hence I sincerely hope, for the sake of the rule of law, that President Marcos will not certify the Maharlika Fund bill as 'urgent,'" he added.

The House of Representatives on Thursday passed the MIF bill on second and third reading after the bill was certified "urgent" by Malacañang.

Congress held its last session yesterday going into a Christmas break.

Pimentel stressed bills should only be certified as urgent for measures needed to meet public emergencies or calamities.

The Palace certified the bill urgent based on the 13 December recommendation of Finance Secretary Benjamin Diokno.

"Please ask Secretary Diokno, what emergency or calamity is there now present which the Maharlika Fund is intended to be able to immediately address, help, or alleviate?" Pimentel said.

Mr. Marcos has admitted that the creation of the sovereign wealth fund was his idea.

"Where is the compliance with the constitutional requirement that there must be a necessity to meet a public emergency or calamity?" Pimentel asked.

Pimentel vowed the MIF bill would be thoroughly discussed by the Senate.

"We have to make sure that the Maharlika Fund Bill will be thoroughly discussed in the Senate," he said.

"We have to examine all, Even the commas, semicolons and periods," he added.