BCDA commended for P8.46-B remittance

CLARK FREEPORT — The Bases Conversion and Development Authority (BCDA) was commended by Finance Secretary Carlos Dominguez III for its record P8.46-billion remittance to the National Treasury in 2017 and 2018.

Dominguez said the total dividend remittances for the first seven months of the year have already reached P32.03billion, more than what was collected in 2017 at P30.46billion.

This, he added, was a “remarkable financial achievement.”

Dominguez also noted that eight GOCCs contributed at least Php1 billion in dividend remittances in 2017.

“We also want to recognize the remittances of the Bases Conversion and Development Authority totalling P8.46-billion from the disposition of assets in 2017 and 2018,” he said.

BCDA is primarily tasked to convert former US military bases into productive uses.

BCDA remitted P8.2-billion to the Bureau of Treasury as share of the Armed Forces of the Philippines (AFP), its major stakeholder, during the first two years of the Duterte administration.

The amount represented 20 percent of the total Php40 billion received by the men and women in uniform from BCDA since the state-run agency was created in 1992.

“It is difficult to imagine our economic achievement without the tremendous contributions of our GOCCs,” Dominguez said, adding there are 125 GOCCs at present.