The Bases Conversion and Development Authority (BCDA) has collected a record P48 billion the past five years, the highest of any administration since the agency’s creation, and almost double that of the previous administration.
BCDA president and chief executive officer Vince Dizon in a presentation said the agency has given the highest contribution to the Armed Forces of the Philippines (AFP) the past five years at P34.2 billion, also the highest and eclipsing the contributions to from 1993 to 2010.
This is broken down into close to P10 billion in terms of replication of affected military facilities of the Navy, the Army and the Air Force. The bulk of P24.3 billion will go directly to the AFP modernization fund.
The P48-billion gross proceeds generated revenues for the government is derived from the sale, lease, or joint venture of the arrangements with private sector partners in Fort Bonifacio and Villamor Air Base.
The BCDA and releases the funds to the AFP and other beneficiary agencies. The AFP is the main beneficiary of the disposition proceeds of the BCDA, used largely for its modernization program.
