The Bases Conversion and Development Authority (BCDA) has remitted P11.5 billion to the national government this year, up 173 percent from last year, giving the government more money for public services while easing the burden on taxpayers, Finance Secretary Frederick Go said.
BCDA president and CEO Joshua Bingcang said the agency is turning over more than P8 billion in its latest remittance, reflecting its stronger ability to generate income from government-owned properties.
“Public assets are generating revenue and value. Resources are being put to good use, and more funding is being made available to support our national priorities,” Go said.
“That is what every return means. Less burden and more relief to the people.”
Go credited Bingcang and his team for making government assets more productive and translating their value into additional funding for public services.
But the returns, Bingcang said, go beyond what reaches government coffers. BCDA-backed investments also create jobs and generate economic opportunities for families and communities.
The agency’s revenues help support spending on roads, hospitals, housing, and military modernization, with the Armed Forces of the Philippines remaining a major beneficiary.
Bingcang expects remittances to grow further as BCDA improves access to its properties, enhances their value, and attracts more investors.
With additional transactions in the pipeline, the agency is looking to squeeze more economic value from public assets, while giving taxpayers a bigger return from properties held in their name.
