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BCDA remits P4B to National Treasury; Up by 25 percent

 

The state-owned Bases Conversion and Development Authority (BCDA) said it recently remitted (March 28, 2016) P4 billion to the national treasury for the period January to December 2015 or a 25 percent increase from the P3.2 billion it remitted for the same period in 2014.

 

The amount represents the National Government’s (NG) dividends share, the share of government beneficiary agencies from BCDA’s asset disposition proceeds, and payment of other obligations to the NG.

 

BCDA President and CEO Arnel Paciano D. Casanova said the latest remitance to the Bureau of Treasury highlights the solid and consistent financial performance of the BCDA in generating billions for government.

 

“The increase was due to successful business ventures, resolution of some problematic accounts with the private sector, more efficient collection and management of contracts, as well as good financial housekeeping. In effect, it’s good governance translating to good economics,” Casanova said.

 

Since the start of the Aquino administration, the BCDA belonged to the so-called “Billionaires’ Club” or the top Government-Owned and -Controlled Corporations (GOCCs) that remitted P1-B or more to the National Treasury.

 

The BCDA has consistenly remitted over P2 billion yearly to the Bureau of Treasury. It remitted P2.112 billion for the period January to December 2010, P2.317 billion for 2011, P2.738 billion for 2012, P2.207 billion for 2013, P3.202 billion for 2014, and P4 billion for 2015.

 

Casanova said that of the P4 billion remitted to the Bureau of Treasury this year, P3.470 billion was the share of several government beneficiaries from the proceeds generated from existing joint venture and lease agreements, and assets disposed in 2015. The remaining amount represented dividends, DOF guarantee fees; and return of initial capital contribution to the NG pursuant to the BCDA Charter.

 

Pursuant RA 7917 and EO 309, proceeds from disposition of former military camp Fort Bonifacio, now developed into Bonifacio Global City, and the former Villamor Air Base, now Newport City, are to be shared with BCDA and several government beneficiaries.

 

Of the P3.470 billion remitted as share of several government beneficiaries, the Armed Forces of the Philippines (AFP) got the lion’s share at P3.392 billion.

 

The share of the other government beneficiary agencies amounted to P71.905 million. The remaining P6.936 million were the shares of the Local Government Units (LGUs) of Taguig, Pateros and Makati.

 

Under Administrative Order 236, certain government beneficiary agencies are entitled to the disposition proceeds.