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BCDA support for AFP breaches P17-B

The Bases Conversion and Development Authority (BCDA) has surpassed its contribution made for the Armed Forces of the Philippines (AFP) amounting to P17.8 billion during the tenure of President Rodrigo Duterte, P4 B higher compared to what it shared during the previous administration.

In a statement, Wednesday, BCDA President and Chief Executive Officer Vince Dizon said its goal is to exceed the contribution to the AFP by previous leaderships as there is still one year left in the Duterte administration, noting that that this reflects the commitment and support of the present administration to upgrade and modernize the capabilities of the nation’s Armed Forces.

“These challenging times should not deter us from delivering our commitment of strengthening the Armed Forces while building great cities. We will intensify our development projects with the private sector to help in the recovery of our economy and provide more job opportunities for our countrymen,” Dizon noted, emphasizing that his office remains steadfast not only in its support for the military, but for all Filipinos reeling from the impact of the COVID-19 pandemic.

To date, BCDA has provided about 400,000 jobs, attracted over 1,000 locators in the special economic zones under the BCDA group, and poured in around $4 billion investments in special economic zones.

Dizon expressed that the combined asset value of the BCDA group is currently around $10 billion, while some of its major assets include Subic-Clark-Tarlac Expressway (SCTEX), a seaport in Subic and in Poro Point in La Union, Clark International Airport, Subic International Airport, and a small airport in Poro Point Freeport Zone, La Union.

“BCDA generates revenues for the government. We generate disposition proceeds from the sale, lease, or joint venture of the arrangements with our private sector partners in Fort Bonifacio and Villamor Air Base. BCDA then receives these disposition proceeds and actually remits these proceeds right away every year, without fail, to the National Treasury, while leaving the BCDA share with BCDA. Under the law, it’s the National Treasury and the Department of Budget and Management that provide, allocate, and release the funds to the AFP and other beneficiary agencies. BCDA does not keep any money from the government agencies,” Dizon further stated.

The current law states that there are more than 20 government agencies that benefit from the disposition proceeds undertaken by BCDA, which include the Department of Transportation (DoTR), Department of Public Works and Highways (DPHW) and the Department of Science and Technology (DoST).

As per records from the BCDA, it said that from May 1993 to December 2020, disposition proceeds generated by BCDA have reached a total of P112 billion, P49 billion or 44% of the entire pie goes to the AFP, while BCDA has a share of 32% or P36 billion.

AFP is the main beneficiary of the disposition proceeds, used largely for its modernization program.

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Credit belongs to : www.tribune.net.ph

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