The Bases Conversion and Development Authority (BCDA) has allocated P59.71 billion for the modernization program of the Armed Forces of the Philippines (AFP) or 43 percent of total proceeds of the agency since May 1993, the agency said.
BCDA announced this at the 27th AFP Forum on its role in the AFP Modernization Program on September 15 where officials sought support to the proposed Congressional amendments to Republic Act (RA) No. 7227 or the Bases Conversion and Development Act of 1992.
“The bill amending RA 7227 will help us better perform our mandate of helping strengthen the AFP. By further unlocking the potential of our economic zones, we would be able to continue contributing to the AFP Modernization Program and pursue replication projects for the military, fortify our collaboration with the AFP, as well as support the military pension fund, which is a priority of President Bongbong Marcos,” said Joshua Bingcang, BCDA president and chief executive officer.
Under the proposed bill, the BCDA’s corporate term will be extended for another 50 years from its current remaining corporate life of 19 years.
The bill will also increase the authorized capital of the BCDA to P400 billion from P100 billion, as well as convert five percent of BCDA’s economic zones to freehold status from leasehold.
BCDA said this provision will free up 1,856 hectares of land, which can potentially generate at least P400 billion in revenues, a portion of which may be earmarked for the military pension fund.
These amendments are part of House Bill No. 8505, a consolidated substitute measure, which was passed on third reading on August 22. A counterpart bill in the Senate is currently being prepared for filing.
Other than contributions to the AFP Modernization Program, the BCDA also provides support by modernizing military facilities as part of its replication program. In 2022, the BCDA turned over modern facilities to the Army Support Command of the Philippine Army, in a bid to relocate the unit’s headquarters in Camp Servillano Aquino in Tarlac. BCDA is also set to complete this 2023 the construction of the P283.4-million Special Services Center and Division Administrative Command Center facility for the Philippine Army in Fort Bonifacio, Taguig City. – Irma Isip
