BCDA Remittance to Nat’l Gov’t Increases by 64% in 2022

The Bases Conversion and Development Authority (BCDA) reported a substantial increase in remittance to the national government in 2022, rising by 64 percent or PHP7.53 billion.

This is up from PHP4.59 billion in 2021.

According to BCDA chief executive officer Aileen Zosa, the rise in remittance to the national government was mainly due to the continuous cash inflows from the organization’s joint ventures, leases, and other income-generating activities.

She added that the bulk of BCDA’s remittance to the Bureau of the Treasury would be allocated to the Armed Forces of the Philippines’ (AFP) modernization program.

Meanwhile, BCDA’s contribution to the AFP’s modernization program rose to PHP7.21 billion in 2022, from PHP2.64 billion in 2021. The Bases Conversion and Development Act of 1992, also known as Republic Act 7227, gives the BCDA the authority to develop former military camps and generate funds for the AFP modernization program.

Zosa stated that BCDA’s strong financial performance is due to their commitment to their mandate of improving the quality of life not only within their properties but also in surrounding communities. She further emphasized that, given the national government’s tightening budgets, they will continue to do more with less and remain conscious of generating revenue for the modernization of the AFP.

This significant increase in BCDA’s remittance to the national government is good news for the AFP as it will enable them to improve their capabilities and better protect the country’s sovereignty. The BCDA’s efforts to generate funds for the AFP modernization program will have a positive impact on the country’s defense and security.

BCDA is given the green light to develop former military bases in the country into commercial hubs to raise funds for the ongoing modernization program of the AFP. (GFB)