BCDA remits P5.22B to Nat'l Treasury

THE Bases Conversion and Development Authority (BCDA) has remitted to the National Treasury a total of P5.220 billion, including guarantee fees and dividends, from January to December 2017, the highest amount generated by the agency so far compared with its previous full-year remittances since 2012.

Of this amount, P4.839 billion—representing the revenues generated from assets disposed by the BCDA from January to date— will go to the Armed Forces of the Philippines (AFP) Modernization Program and other beneficiary agencies as provided under the law.

The Bureau of the Treasury (BTr) said the BCDA's remittances for the January-December 2017 period are broken down as follows: dividends worth P130 million; guarantee fees worth P250 million; and disposed assets worth P4.839 billion.

"To date, the BCDA has raised a total of P36.6 billion for the AFP modernization program which is allocated for the purchase of military equipment to ensure sustained capability upgrade of the Armed Forces. Of the amount, P25.2 billion accounts for the AFP share while Php11.4 billion is earmarked for the replication of military facilities such as housing units, hospitals, churches, and museums, among others. This is in line with BCDA’s mandate to strengthen the Armed Forces while building great cities," the BCDA said in its statement.