36 percent of BCDA earnings to be allotted for AFP modernization, Lorenzana assures
BASES Conversion and Development Authority (BCDA) Chairman Delfin n. lorenzana on Friday assured that 36 percent of BCDA’S earnings would be allotted for the modernization program of the Armed Forces of the philippines (AFP).
“Ang sabi ko sa kanya [president Ferdinand ‘Bongbong’ R. Marcos Jr.], ang kagandahan ng aking pagpunta sa BCDA ay sa kadahilanang 36 percent ng earnings o iyong kinikita ng BCDA ay pupunta sa modernization ng equipment ng Armed Forces,” said lorenzana in a televised interview on Friday.
The former defense chief took his oath of office before the president on July 7 to his new post as BCDA chairman, replacing Gregorio D. Garcia.
The BCDA chairman noted that his objective is to protect the interest of the AFP on the billions of pesos earnings of BCDA and to ensure that the right amount of budget is channeled for the military’s modernization program.
“So iyon ang aking layunin dito para mapangalagaan natin ang anuman…o ang interes ng ating Armed Forces kontra doon sa mga kinikita ng BCDA kasi bilyung-bilyong piso ito at marami na rin silang naibigay para sa modernization. Nakabili tayo ng maraming equipment dahil doon sa binibigay ng BCDA,” said lorenzana.
lorenzana clarified that apart from the Armed Forces, various agencies such as the Supreme Court and the Department of labor and employment (Dole) also benefit from BCDA.
“Sa 100 percent na profit ng BCDA ay, 36 percent lang iyong nakukuha ng AFP so ang karamihan niyan ay ibinibigay nila sa mga iba’t ibang ahensiya para sa mga kanilang gagamitin din, kung saan man nila gagamitin, maaari ring pang-improve ng kanilang opisina or whatever, pambili ng mga equipment. Pero ang share natin ay 36 percent
lang,” said lorenzana in a televised interview on Friday.
When asked on how potential investments in BCDA will spur economic growth in the country, lorenzana noted that foreign investments create business opportunities and increase land valuation.
“Tuwing magkaroon ng foreign investment na darating dito, magdadala ng pera at nagagagawa sila ng negosyo ay tumataas din itong valuation ng mga lupa na kanilang binibili ano, iyong paligid,” said Lorenzana.
in news a statement on Wednesday, BCDA said that in partnership with Filinvest land inc. (Fli), they recently wooed Singaporean investors to set up shop in new Clark City, particularly at the 288-hectare mixed-use industrial township project that is being developed within the rising metropolis.
Created under Republic Act 7227, the BCDA is a government owned and controlled corporation which transforms former military bases into centers of economic growth. it remits the largest portion of its disposition income for the AFP Modernization program.
in a statement on Sunday, BCDA said that its total contributions to the AFP under the previous administration reached a record-high of p25.01 billion.