BCDA remits P15B in 3 years under Duterte admin

The Bases Conversion and Development Authority (BCDA) said Friday it remitted to the government P15.455 billion in just three years under the Duterte administration.

In a statement, the BCDA said the P15.455 billion it remitted under the current administration exceeded the P14.464 billion remitted by the agency during the six-year term of Aquino administration.

BCDA said it recently remitted to the National Treasury the amount of P5.401 billion representing asset disposition proceeds, dividends and guarantee fees.

The state-owned agency previously declared P6.004 billion in 2018, and P4.050 billion in 2017.

“BCDA’s positive performance in the past three years can be attributed to the efficient governance promoted by President Duterte. Because of this, BCDA has already remitted P1 billion more than what was declared during the six years of the previous administration,” BCDA president Vince Dizon said.

Republic Act No. 7656 or the “Dividend Law” requires government-owned and -controlled corporations, including BCDA, to declare and remit at least 50 percent of their annual net earnings.

The Armed Forces of the Philippines (AFP), BCDA’s biggest stakeholder, got the lion’s share of P12.5 billion in the past three years.

Out of the total P15.455 billion, P12.5 billion was contributed to the modernization program of the AFP.

“This amount reflects the commitment and support of BCDA and the Duterte administration to upgrade the capabilities of the AFP,” said Dizon.

Since its creation in 1992, BCDA has remitted a total of P62.229 billion to the National Treasury. —KBK, GMA News