The Bases Conversion and Development Authority (BCDA) said it is targeting to remit P5 billion to the National Government in 2023. Know more:
The Bases Conversion and Development Authority said it is targeting to remit P5 billion to the National Government in 2023.
In a statement on Monday, the Authority said despite the economic uncertainty and disruption caused by the pandemic. The P7.53 billion worth of remittances recorded in 2022, it said, is an increase of P2.94 billion or 64 percent from P4.59 billion in 2021. Further, it said 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.
“This strong financial performance is driven by our commitment to our mandate of improving the quality of lives of those not just in our properties, but also those in the surrounding communities. After a very difficult two years, doing more with less will be the underlying principle of all our efforts in BCDA as the national government copes with tightening budgets.
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