Dominguez commends BCDA over record remittance

The Bases Conversion and Development Authority (BCDA) was commended by Finance Secretary Carlos Dominguez III for its record Php8.46-billion remittance to the National Treasury in 2017 and 2018.

At the Government Owned and Controlled Corporations (GOCCs) Day held at the Rizal Hall of Malacaรฑan Palace Wednesday, Dominguez said the total dividend remittances for the first seven months of the year have already reached Php32.03 billion, more than what was collected in 2017 at Php30.46 billion. This, he added, was a “remarkable financial achievement.”

Dominguez also noted that eight GOCCs contributed at least Php1 billion in dividend remittances in 2017.

“We also want to recognize the remittances of the Bases Conversion and Development Authority totalling Php8.46 billion from the disposition of assets in 2017 and 2018,” he said.

BCDA is primarily tasked to convert former US military bases into productive uses.

BCDA remitted Php8.2 billion to the Bureau of Treasury as share of the Armed Forces of the Philippines (AFP), its major stakeholder, during the first two years of the Duterte administration. The amount represented 20 percent of the total Php40 billion received by the men and women in uniform from BCDA since the state-run agency was created in 1992.

In his remarks, Dominguez said “it is difficult to imagine our economic achievement without the tremendous contributions of our GOCCs.” To date, there are 125 GOCCs.

President Rodrigo Duterte graced the GOCCs Day and witnessed the presentation of the Certificates of Acknowledgment of Dividend Remittances. Executive Secretary Salvador Medialdea and House Speaker Gloria Macapagal-Arroyo were also present during the occasion.