THE Bases Conversion and Development Authority (BCDA) said it remitted P5.7 billion to the Treasury this year to help fund key infrastructure programs and social services.
In a statement on Thursday, the BCDA said the dividend, turned over to the Bureau of the Treasury on April 27, was up 5% from a year earlier.
The BCDA also noted that a portion of the dividend will also support Armed Forces of the Philippines modernization programs.
Republic Act (RA) 7656 requires government-owned and -controlled corporations (GOCCs) to remit at least 50% of their net earnings to the National Government.
“BCDA is the GOCC that goes beyond generating dividends. It is a true developer of progress, creating the platforms and jobs that uplift millions of Filipinos across the country,” Finance Secretary Frederick D. Go said.
The BCDA added that some P3.09 billion was raised from the disposition of assets, which will be distributed to beneficiary agencies.
The BCDA also remitted P25 million in guarantee fees to the BTr, which will be applied to the government’s loan from the Japan International Cooperation Agency for the Subic-Clark-Tarlac Expressway.
“Every peso we remit translates to real improvements in people’s daily lives. This is how we make sure our work creates an impact that people can see and feel,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.
The BCDA is tasked by RA 7227 to transform former US military bases into economic hubs. — Beatriz Marie D. Cruz
