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Louella Desiderio - The Philippine Star
May 27, 2025 | 12:00am
In a statement, the BCDA said it remitted P2.04 billion to the national government this year, 30.7 percent higher than the previous year’s P1.56 billion.
Businessworld / File
MANILA, Philippines — State-run Bases Conversion and Development Authority (BCDA) remitted record-high dividends worth over P2 billion to the state’s coffers this year to support initiatives that will drive economic growth.
In a statement, the BCDA said it remitted P2.04 billion to the national government this year, 30.7 percent higher than the previous year’s P1.56 billion.
The remittance, which was formally turned over to the Bureau of the Treasury (BTr) on May 15, represents 80 percent of the BCDA’s net earnings in 2024.
Under Republic Act 7656, government-owned and controlled corporations (GOCCs) are mandated to remit at least 50 percent of their net earnings to the national government.
As part of efforts to increase revenues without new taxes, the Department of Finance (DOF) earlier called on GOCCs to remit at least 75 percent of their net income.
The BCDA’s remittance earlier this month is on top of the P3.13 billion remitted as a share of asset disposition proceeds collected in 2024.
The share of asset disposition proceeds would be distributed to several beneficiary agencies including the Armed Forces of the Philippines (AFP).
Earlier, the BCDA also paid P46 million in guarantee fees to the BTr in relation to a loan from the Japan International Cooperation Agency for the Subic-Clark-Tarlac Expressway Project.
These figures bring the BCDA’s total remittance to the BTr as of mid-May to P5.21 billion.
“The BCDA’s record-high dividend remittance is a proof of the agency’s robust financial position, driven by our unwavering commitment to transform former military bases into bustling economic hubs through high-impact public-private partnerships,” BCDA president and CEO Joshua Bingcang said.
“More than contributing to the state coffers, these dividends will provide crucial support for the national government’s programs and further fuel our collective efforts to foster inclusive and sustainable economic growth in the country,” he said.
The BCDA, which was created through Republic Act 7227 or the Bases Conversion and Development Act, is mandated to contribute a portion of its income from the sale, lease or joint venture developments of former military camps in Metro Manila to support the AFP’s modernization program, as well as other beneficiary agencies.
