BCDA Remits P4.8 Billion to Duterte Admin an Increase of 300%

The Bases Conversion and Development Authority (BCDA) under the administration of Pres. Rody Duterte said that the agency's contribution to the Armed Forces of the Philippines Modernization Program tripled in the first year of the Duterte admin compared to the average annual contribution during the Aquino admin.

BCDA released a statement on Monday saying that it had remitted almost P5 billion to the Bureau of Treasury, which it says is the highest amount of money they generated for the Armed Forces of the Philippines.

The state-owned agency recently turned over P1.2 billion to the AFP in addition to the P3.6-billion contribution remitted earlier this year from the sale of assets and rental revenues, for a total of P4.8 billion, which is equivalent to a 300-percent increase from the average annual contribution of P1.5 billion from 2006 to 2015, the statement read.

BCDA's contribution to the Philippine government also double the 2015 remittance of P2.2 billion, the BCDA said. The agency raised a total of
P36.6 billion for the AFP modernization program, which is allocated for the purchase of military equipment to ensure it sustained the capability upgrade of the AFP.

Of the amount, P25.2 billion accounts for the AFP share while P11.4 billion is earmarked for other facilities such as housing units, hospitals, churches and museums.

The BCDA managed some former military facilities in the country and since its creation in 1992, the BCDA has contributed in enhancing the capabilities of the AFP through the disposition and development of former military bases into productive civilian use, which resulted in economic hubs like Bonifacio Global City in Taguig City and Newport City in Pasay City.

The agency also allocated P5-million fund for the hospitalization assistance of wounded soldiers who fought in the Marawi siege as part of the agency's corporate social responsibility.

Source: PNA

BCDA Remits P4.8 Billion to Duterte Admin an Increase of 300% BCDA Remits P4.8 Billion to Duterte Admin an Increase of 300% Reviewed by Phil Newsome on November 29, 2017 Rating: 5
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