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36% of BCDA earnings go to AFP modernization program: Lorenzana

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Katrina Domingo, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The New Clark City continues to undergo development in Capas, Tarlac on September 19, 2018. ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2019/tvpatrol/04/02/20180919-new-clark-city-3807-md.jpg"/><figcaption>The New Clark City continues to undergo development in Capas, Tarlac on September 19, 2018. ABS-CBN News/File</figcaption></figure></div>MANILA - At least 36 percent of the Bases Conversion and Development Authority&#x27;s (BCDA) earnings help fund the Armed Forces of the Philippines&#x27; (AFP) modernization program, the agency&#x27;s new chief said on Friday.&quot;Ang kagandahan ng aking pagpunta sa BCDA ay sa kadahilanang 36 percent ng earnings na kinikita ng BCDA ay pupunta sa modernization ng Armed Forces,&quot; said BCDA chairperson Delfin Lorenzana, a retired general who served as President Rodrigo Duterte&#x27;s Defense Secretary. The BCDA earlier reported that its collection jumped to P7.38 billion this year, or 60.81 percent higher than its P4.59 billion remittance to the Bureau of Treasury.&quot;Ang negosyo kung minsan ay mataas na kita, kung minsan ay mababa,&quot; Lorenzana said when asked about the spike in profit.&quot;&#x27;Yung 4-point-something billion na yun... siguro &#x27;yung investment nila noong mga nakaraang panahon ay ngayon pa lang nagiging productive o profitable,&quot; he said.In an earlier statement, the BCDA said a &quot;bulk of [its] remittances to the National Treasury came in the form of disposition proceeds amounting to P6.38 billion.&quot;&quot;This amount came from the income generated by BCDA in 2021 from the sale, lease, or joint venture development of former military camps in Metro Manila, pursuant to Republic Act 7227 or the Bases Conversion and Development Act,&quot; the agency&#x27;s statement read.&quot;Of the disposition proceeds, almost 99 percent or P6.31 billion is allocated to the AFP for its modernization program, giving a boost to military forces who respond to crises and defend the country against all threats,&quot; it read.A separate P65.65 million in earnings will be given to other government agencies, while P4 million &quot;will be divided equally among the contiguous cities of Makati and Taguig, and the municipality of Pateros,&quot; it said.Aside from the AFP, other government bodies including the Supreme Court and the Department of Labor and Employment also get a share from the BCDA&#x27;s earnings, Lorenzana said.The BCDA chief said he expects the agency&#x27;s earnings to further increase in the coming years.&quot;Hindi naman malaki ang adjustment [para sa akin] dahil sanay naman tayo sa ganoong trabaho na papasok sa umaga, uuwi sa hapon at titingnan ang mga proyekto,&quot; Lorenzana said.&quot;Ang pinagkaiba lang dito sa BCDA, hindi naman siguro pag nagkakamali ka ng desisyon ay hindi apektado yung buhay ng mga tao hindi katulad sa military na kapag nagkamali ka ng desisyon ay manganganib ang buhay ng mga sundalo at mga sibilyan,&quot; he said.Lorenzana said he has yet to thoroughly review all revenue-generating activities in BCDA properties, but noted that the University Athletic Association of the Philippines (UAAP) is planning to hold its swimming competitions in the New Clark City.The BCDA noted that since its creation in 1992, it has already remitted P80.46 billion to national treasury. <figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2124968" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

At least 36 percent of the Bases Conversion and Development Authority's (BCDA) collections help fund the Armed Forces of the Philippines' (AFP) modernization program, the agency's new chief said on Friday.

36% of BCDA earnings go to AFP modernization program: Lorenzana

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36% of BCDA earnings go to AFP modernization program: Lorenzana

Katrina Domingo,

ABS-CBN News

Published July 15, 2022 04:30 PM PHT

|

Updated July 15, 2022 04:43 PM PHT

Read More:

BCDA

Bases Conversion and Development Authority

Delfin Lorenzana

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