Maharlika organizational structure being finalized

MANILA, Philippines — The Governance Commission for GOCCs (GCG) is now finalizing the organizational structure and staffing pattern of state-run Maharlika Investment Corp. (MIC), which will be up for approval by President Marcos.

GCG chairman Marius Corpus said the agency continues to assist the MIC in its organizational structure.

“As far as investments are concerned, I think there are already some preliminaries. But we have to really organize the MIC first,” Corpus told The STAR.

“There is already a recommendation for an initial organizational staffing pattern which will be sent to the Office of the President for approval,” he said.

As of now, the MIC is only composed of the MIC board which includes MIC president and CEO Rafael Consing Jr., MIC chair and Finance Secretary Ralph Recto, Land Bank of the Philippines president and CEO Lynette Ortiz and Development Bank of the Philippines president and CEO Michael de Jesus.

Also included are MIC directors Vicky Castillo Tan, Andrew Jerome Gan, German Lichauco, and Roman Felipe Reyes, as well as the MIC advisory board.

The MIC will be needing more manpower to jumpstart its investment portfolio.

However, an approval from the GCG and OP is necessary for the pay grade and benefits, among others.

“For the highly technical positions, under the law, they are not covered by the CPCS (compensation and position classification system),” Corpus said.

“For the other positions, the CPCS rates will apply,” he said.

The CPCS aims to provide a standardized compensation package and index of occupational services, position titles and salary grades for all GOCCs.

The MIC is responsible for mobilizing and utilizing the Maharlika Investment Fund for investments in transactions aimed at generating optimal returns.

Sectors that may potentially be tapped include infrastructure, oil, gas, and power, agroforestry industrial urbanization, mineral processing, tourism, transportation and aerospace and aviation.