BCDA chip in to Treasury nears P100B
The Bases Conversion and Development Authority (BCDA) is expecting year-to-date government remittances to surpass the P100 billion level this year, according to its top official.
Data from the BCDA showed that its contribution to government coffers amounted to P96 billion between May 1993 and May this year.
“We will breach [our cumulative government remittance this year],” BCDA president and CEO Joshua Bingcang said in a media roundtable.
As of mid-May, the BCDA’s total remittance to the government reached P5.2 billion, equivalent to more than 88 percent of last year’s contribution of P5.9 billion.
In May alone, the BCDA remitted a record-high P2.04 billion in dividends to the government, a 30.68 percent increase from P1.56 billion a year ago.
The remittance amount, which was turned over to the Bureau of the Treasury, represents 80 percent of its net earnings in 2024.
Separately, Bingcang said the BCDA is investing around P1 billion over the next two years for the Subic-Clark-Tarlac Expressway (SCTEx), with plans to spend at least P300 million for the installation of road lights.
“We will be also installing road lighting, especially if you’re going to Subic … it’s dark at night,” he told reporters.
Bingcang also said the funding also entails completing three road interchanges in Hermosa town in Bataan Luisita Access Road in Tarlac City and Mabalacat, Pampanga estimated at about P250 million each.
