ILIGAN City ― “Ako ay Pilipino, may dugong Maharlika… Likas sa aking puso, adhikaing kay ganda.” This is a haunting song, composed by George Canseco for the Imeldific, we are told.

These days, the term Maharlika has returned to our consciousness. Not in a song but in some bills in congress. The term has now a middle name and the last name ― Wealth Fund or Investment Fund.

The bill, HB 6398 is said to be funded initially from the SSS, GSIS, from Government Controlled Corporations like the Land Bank of the Philippines, the Development Bank of the Philippines, and even the Bangko Sentral ng Pilipinas.

Personalities behind this “creature” are Speaker Martin Romualdez, Rep. Sandro Marcos, and several others allied with the present government under PBBM. The seed money will then comprise P275 billion and it is envisioned to spur development projects, infrastructures, and investments from foreign sources. etc.

And this too, among others, will “create jobs” for thousands of people in the country.

Naturally, those who will be at the forefront of this “creature” will principally be those named officials and their “friends.”

Several sectors are not taking this development setting down. Suddenly, I hear somebody saying that “Maharlika” is the name of that supposed “Maharlika Unit” of the late Ferdinand Marcos Sr. during WWII which was reportedly very “brave.”

Which, researchers say, was really nonexistent. And the dictator’s reported medals for bravery and valor were naturally, “untrue” too.

What’s more, there are political analysts who remember the time of the Central Bank of the Philippines. Which went “bankrupt” because, for one there were plenty of “behest loans” by cronies of the leader during those time, like Lucio Tan and several others with foreign-sounding family names.

Thus, “Central Bank of the Philippines” became “Bangko Sentral ng Pilipinas.”

And now, this “Maharlika” creature is, as many see it, not “crawling” but “galloping” to the finish line, like some whipped horse.

Meaning, the creators of this “creature” then, are in a hurry. To have this passed by Congress. Pronto!

Yet, I believe that the “howls” of some voices are being heard by these creators. Because it is reported that the seed money that is to come from SSS and the GSIS is now being abandoned.

The country, per these analysts, cannot afford this kind of “creature.” They have brought out what happened to Malaysia and its leader when it came up with this kind of “creature.”

They say it will only line the pockets of those involved in it!

With the abandonment of the idea of that seed money coming from the SSS and the GSIS, I think this is a small victory for us. And what did they say about small victories? One small victory may lead to bigger victories.

It is reported, too, that Senator Imee Marcos has misgivings about this kind of creature. She doesn’t approve of this through and through.

One analyst even said, “why not collect the P203B estate tax from the Marcoses instead?”

Email: norasorino2@gmail.com