BCDA asset proceeds triple as state cash haul hits record

The Bases Conversion and Development Authority (BCDA) has more than tripled its asset disposition remittances to P11.5 billion this year, boosting government funding for military modernization and other priority programs.

The amount represents a 267-percent increase from P3.1 billion last year. Including P2.6 billion in dividends paid last May, BCDA’s total remittances reached a record P14.1 billion.

Outgoing BCDA President and Chief Executive Officer Joshua Bingcang on Thursday turned over another P8.42 billion to Finance Secretary Frederick Go, with the Armed Forces of the Philippines (AFP) set to receive the largest share of the proceeds.

“That’s P11.5 billion to lighten the load of our taxpayers. That is what every return means—less burden and more relief to the people,” Go said.

Under Republic Act No. 7227, BCDA is mandated to generate revenues from the sale, lease, and development of former military properties to support AFP modernization and other government programs.

Data released by the Philippine Statistics Authority showed that approved foreign investments jumped 125.3 percent to P166.03 billion in the third quarter, with Central Luzon attracting the largest share at P76.94 billion.

Nationwide, total approved investments from Filipino and foreign investors rose 82.7 percent to P628.19 billion, although these represent commitments that have yet to be fully realized.