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Labor group opposes Maharlika Wealth Fund

BY CHRYSEE G. SAMILLANO

In the midst of economic woes that that are bleeding the Filipino people dry, the proposal for the Maharlika Wealth Fund is untimely, if not alarming, General Alliance of Workers Association (GAWA) secretary general Wennie Sancho said yesterday.

Sancho said it seems that most legislators in the House of Representatives want to railroad the process of passing the MWF Bill into law.

He is questioning the haste in fast tracking the process without proper consultation when “there are more urgent matters of national concern that should be prioritized by our legislators such as how to reduce the skyrocketing inflation, the high cost of living, deterioration of workers’ purchasing power, to name a few,” he said.

Why focus on this MWF that might be another experiment towards corruption? Sancho asked.

GAWA vehemently opposes the MWF because it is illegal and unconstitutional, he said adding that the law does not allow the transfer of funds from the Social Security System (SSS) or Government Service Insurance System (GSIS) to MWF.

Sancho said the funds from these government agencies is from the money of the people, the contribution of the workers and employers that they had entrusted to the government. This is the “sweat of their labor” that was set aside for their retirement and other benefits. In principle, it is their money or private property.

When a worker has no property, his only property is his work and the wages he earns. Since his contribution to SSS or GSIS were deducted from his salary, that becomes part of his savings which forms part of his property, he said.

Article 111, Section 9 of the Bill of Rights in the 1987 Constitution specifically states that “Private property shall not be taken for public use without just compensation,” Sancho said.

“Our legislators who are joining the bandwagon for MWF should solicit from rich and millionaire politicians to finance the MWF. The workers will never allow their money to be used for MWF,” he added.*

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