BCDA remits P5.17B to National Treasury in 2024
On Tuesday, Finance Secretary Ralph Recto announced that the Bases Conversion and Development Authority (BCDA) remitted P5.17 billion to the National Treasury in 2024.
The BCDA contributed P2.04 billion in cash dividends and an additional P3.13 billion from asset disposition proceeds, marking its highest contribution ever.
Recto highlighted that this amount could fund significant public projects such as building around 2,000 classrooms or providing a quarter billion hot meals for children.
The BCDA is mandated to strengthen the Armed Forces of the Philippines and develop integrated business centers like Bonifacio Global City and New Clark City.
Government-owned and controlled corporations are directed by the Department of Finance to remit at least 75 percent of their net income to state coffers.
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