MANILA – The Bases Conversion and Development (BCDA) reported on Monday that the state-owned corporation’s remittance to the National Treasury rose to PHP7.38 billion this year.
In a statement, BCDA said this year’s remittance is 60.8 percent higher than the PHP4.59 billion contribution of the agency to the national coffer in 2021.
“I am proud to report that despite the challenges brought about by the pandemic, BCDA’s remittances to the National Treasury are higher, with an increase of PHP2.79 billion this year,” BCDA officer-in-charge president and chief executive officer Aristotle Batuhan said.
Of the total remittances to the Bureau of the Treasury (BTr), PHP6.38 billion came from disposition proceeds, or the sale, lease, or joint venture development of former military camps in Metro Manila.
Some PHP6.31 billion or 99 percent of the disposition proceeds are allotted for the modernization program of the Armed Forces of the Philippines (AFP).
Under Republic Act 7227, the BCDA has the authority to develop former military camps and generate funds for the AFP modernization program.
“Clearly, BCDA will not relent in its responsibility to build the nation and strengthen our Armed Forces,” Batuhan added.
Part of the disposition proceeds will go to other beneficiary agencies amounting to PHP65.65 million, while local government units of Makati, Taguig, and Pateros, where the former military camps are located, will receive a total of PHP4.05 million.
The government-owned and controlled corporation (GOCC) also remitted PHP842.08 million in dividends and PHP161.97 million worth of guarantee fees.
The dividends remitted comply with the Republic Act 7656, directing all GOCCs to declare and remit 50 percent of their net earnings to the National Treasury, while the guarantee fees “were incurred in 2021 in relation to the government’s loan from the Japan International Cooperation Agency (JICA) for the Subic-Clark-Tarlac Expressway (SCTEX) Project,” BCDA said.
“Our aggressive collection efforts have paid off, generating funds while resolving long-standing disputes over properties or with business partners,” Batuhan said. (PNA)