The Bases Conversion and Development Authority (BCDA) chipped in P17.8 billion from 2016 to 2021 to the Armed Forces of the Philippines (AFP), bringing to P112 billion its total contribution to the modernization of the AFP.
In a statement , Vince Dizon, BCDA president and chief executive officer, said the agency generates revenues for the government through disposition proceeds from the sale, lease, or joint venture of the arrangements with private sector partners in Fort Bonifacio and Villamor Air Base.
BCDA receives the disposition proceeds and remits them to the National Treasury annually.
AFP is the main beneficiary of the disposition proceeds.
Under the law, the National Treasury and the Department of Budget and Management that provide, allocate and release the funds to the AFP and other beneficiary agencies.
From May 1993 to December 2020, disposition proceeds generated by BCDA have reached a total of P112 billion. About P 49 billion or 44 percent of the entire pie goes to the AFP, while BCDA has a share of 32 percent or P36 billion.
Dizon said the agency generated 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.
The combined asset value of the BCDA group is around $10 billion to date.
Some of its major assets include Subic-Clark-Tarlac Expressway , 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.
