Maharlika Investment Corp. has already obtained a Php22.2 billion budget from the government for the 2024 investment commitment.
According to Ammenah Pangandaman- Department of Budget and Management (DBM) Secretary, the said budget is lower than the original operating budget proposed of P36.6B that the Maharlika Investment Corp first submitted.
DBM Sec explained that the first request by the Maharlika Investment Corp (MIC) was at 60% of 36.1B dedicated funds for the capital outlays from the planned spending for 2024.
MIC President and CEO Rafael Consing Jr added that the budget is a reflection of the investment commitments this year.