The Bases Conversion and Development Authority (BCDA) is projecting a P451.26 billion to P1.45 trillion in revenues, which may be earmarked for military pension funds, among others, once the BCDA charter amendments are implemented. The BCDA issued the revenue forecast as it welcomed the approval of House Bill 8505 on…
The Bases Conversion and Development Authority is projecting a P451.26 billion to P1.45 trillion in revenues, which may be earmarked for military pension funds, among others, once the BCDA charter amendments are implemented.
In a statement released on Wednesday, the state-run firm cited the impact of the measure in the development of the economic zones managed by the BCDA and in beefing up state coffers to support the military’s pension fund. Moreover, the bill will increase the authorized capital of the BCDA to P400 million from P100 billion.
At present, the state-run firm said, “Lands within BCDA economic zones are only available on leasehold, preventing the entry of affordable housing developers.” The BCDA estimates that this provision will free up 1,856 hectares of land, which can potentially generate P451.26 billion up to P1.45 trillion in revenues.
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