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BCDA remittances to BTr grow to P7.38-B in 2022

MANILA, Philippines — The Bases Conversion and Development (BCDA) revealed on Monday that the state-owned corporation’s remittance to the National Treasury grew to PHP7.38 billion this year.

In a statement, BCDA said this year’s remittance is 60.8 percent greater than the PHP4.59 billion contribution of the agency to the national coffer in 2021.

“I am delighted to inform you that despite the hurdles brought about by the pandemic, BCDA’s remittances to the National Treasury are greater, with an increase of PHP2.79 billion this year,” BCDA officer-in-charge president and chief executive officer Aristotle Batuhan said.

Of the overall remittances to the Bureau of the Treasury (BTr), PHP6.38 billion came from disposition revenues, or the sale, lease, or joint venture development of former military bases in Metro Manila.

Some PHP6.31 billion or 99 percent of the disposal revenues are designated for the modernization program of the Armed Forces of the Philippines (AFP) (AFP).

Under Republic Act 7227, the BCDA has the authority to develop former military camps and produce cash for the AFP modernization program.

“Clearly, BCDA will not cease in its responsibilities to build the nation and reinforce our Armed Forces,” Batuhan stated.

Part of the disposition revenues will go to other beneficiary agencies equal to PHP65.65 million, while local government units of Makati, Taguig, and Pateros, where the old military installations are located, would receive a total of PHP4.05 million.

The government-owned and controlled corporation (GOCC) also remitted PHP842.08 million in dividends and PHP161.97 million worth of guarantee fees.

The dividends remitted comply with the Republic Act 7656, directing all GOCCs to declare and remit 50 percent of their net earnings to the National Treasury, while the guarantee fees “were incurred in 2021 in relation to the government’s loan from the Japan International Cooperation Agency (JICA) for the Subic-Clark-Tarlac Expressway (SCTEX) Project,” BCDA said.

“Our aggressive collection efforts have paid off, producing revenue while resolving long-standing conflicts over properties or with business partners,” Batuhan stated

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