THE Bases Conversion and Development Authority (BCDA) remitted P5.17 billion to the National Treasury in 2024, Finance Secretary Ralph Recto said.
The Department of Finance (DOF) noted that the BCDA remitted P2.04 billion in cash dividends to the Bureau of the Treasury – the highest amount it has ever contributed, and equivalent to about 80 percent of its net earnings in 2024.
On top of that, it also contributed P3.13 billion as a share of its asset disposition proceeds.
“The P5.17 billion pesos can build around 2,000 classrooms. Or buy fertilizer for more than half a million hectares of rice land. Or a quarter billion hot meals for our children,” Recto said on Monday, June 16.
“If channeled to its mandated beneficiary, the (Armed Forces of the Philippines), it can boost the welfare and the weaponry of our fighting men,” he added.
The DOF directs government-owned and controlled corporations (GOCC) to remit 75 percent of their net income to state coffers.
The BCDA is a state-controlled firm mandated to help strengthen and modernize the Armed Forces while establishing integrated developments, and business centers, like the Bonifacio Global City, New Clark City, and Newport City. (ABS-CBN News)
