Author: BCDA
Posted: January 08, 2014 | Category: General News
The state-owned Bases Conversion Development Authority (BCDA) said it recorded cash inflows of P6.022 billion in 2013 or an P850 million increase from the P5.172 billion it recorded in 2012 due to its efficient collection efforts and resolution of problematic accounts.
“We are very pleased with the results of our collection efforts that has translated to the BCDA’s increased cash inflows which will augur well not only for the BCDA but for the government as well,” BCDA President and CEO Arnel Paciano D. Casanova.
Casanova noted that the recorded P6.022 billion also surpassed BCDA’s 2013 collection target of P5.847 billion by P175 million.
Casanova said the increase in collection was attributed to the agency’s efficient collection, resolution of problematic accounts, successful negotiations of lease payments, successful disposition of properties, and payment of dividends from subsidiaries. BCDA collected from Megaworld Corporation the P873 million minimum annual secured revenue share for the year 2013 arising from the JUSMAG disposition in 2010.
He said among the unprogrammed collections include the successful negotiations of lease payments from the Manila International Airport Authority (MIAA) on the land where the NAIA III is currently located which belongs to the BCDA and the payments made by the DPWH for the right-of way of the North Luzon Expressway and the NAIA Expressway Road.
Pursuant to Republic Act 7227, the BCDA is mandated to accelerate the conversion into productive economic uses of the former US military bases in Clark and their extensions in Camp John Hay and Poro Point.
These conversions are funded through the sale and disposition of Metro Manila camps, such as Fort Bonifacio and the Villamor Air Base, while also contributing a large portion of the proceeds to the Armed Forces of the Philippines (AFP) Modernization Program.
The Subic-Clark-Tarlac Expressway (SCTEX) is also a BCDA project that connects the Subic Seaport and Clark International Airport thereby creating a Global gateway for the efficient movement of people, goods and services within Central Luzon and neighboring regions, an advantage valued by the locators in this age of just-in-time production and delivery.
An upcoming project of the BCDA is the Clark Green City—practically a new city half the size of Metro Manila to rise in Clark.