Budget Secretary Amenah Pangandaman on Thursday said there are eight applicants, so far, for the board of directors posts of the Maharlika Investment Corp. or MIC.

In an interview with reporters, Pangandaman said the list of candidates will be presented to President Ferdinand R. Marcos Jr. by Monday, 2 October.

She said that, so far, there are three applicants for president and chief executive officer of the MIC.

"The information I received initially two weeks ago when we started, it's like there are already seven to eight applicants, mostly from the private sector, none from the government," Pangandaman said.

Several sources told DAILY TRIBUNE that the submission period for nominations and applications ended last 27 September, while the deliberations on the applicants will take place on 29 September.

The MIC is a state-owned entity overseeing the Maharlika Investment Fund. The MIF is designed to consolidate government funds for investment in significant ventures, including real estate and financial instruments.

On 12 September, the Presidential Communications Office called for applications and nominations, with detailed criteria and information on the Department of Budget and Management website.

In July, Finance Secretary Benjamin Diokno announced that the MIF was anticipated to start its operations by early 2024, following the enactment of the legislation earlier that month.

Last January, during his opening remarks at the Philippines Country Strategy Dialogue in Davos, Switzerland, President Marcos highlighted the MIF and its role in financing essential infrastructure projects.