It is no secret how the President likes watching Formula One racing. Two of his 15 foreign trips as President were to Singapore to watch the SG Grand Prix for Formula One.

At this year's race held last month, President Bongbong Marcos Jr. watched the race from inside the Ferrari paddock — reserved for VVIPs and other loyal patrons. The paddock is where cars are prepared before the race and is near the pitstop, where cars take strategic breaks to refuel, change tires, and get serviced. A car can make one to four pitstops in a single race, depending on the racetrack, and each stop takes only 2-3 seconds.

This week, the President announced a pitstop for the Maharlika Investment Fund or MIF, which may be heralded as the administration's prime innovation to bring more foreign investments into the country. The Implementing Rules and Regulations for the MIF were suspended pending more consultations that must be undertaken before placing the fund into full effect.

Notably, GOCCs such as the Land Bank of the Philippines and the Development Bank of the Philippines contributed to the initial fund of P75 billion. Of question now would be if these public monies will be returned.

Speculations were publicized by the main contrarians to the fund in the halls of Congress.

Opposition Senator Koko Pimentel said this was a "very good development." This was echoed in the House of Representatives by minority member Rep. Edcel Lagman, who said, "Haste makes waste is an appropriate aphorism for inscription on the epitaph of the Maharlika Investment Fund."

Editorial columnists pointed out that the lackluster launch of the MIF was evident by the failure of foreign investors to come to its aid. These probably were those who pledged to invest but failed to come through after the law was enacted.

The President came to the rescue at his press conference yesterday before he left for Saudi Arabia. In his farewell message, he said he was alarmed by the news reports on the suspension of the MIF. Rather, he said, it was put on hold to allow a further review and to improve its implementation.

The recommendation to pause the MIF was surely vetted by members of the economic team, who had their meritorious reasons for making this decision. The pause would also allow the President to make more investment pitches on his foreign trips, such as the one he is now on in the Middle East.