State-run Bases Conversion and Development Authority said Monday it remitted P2.2 billion to the Bureau of Treasury from 2014 operations.
The amount represents the national government’s dividends share and the share of government beneficiary agencies from BCDA’s asset disposition proceeds.
“Since the start of the Aquino administration, the BCDA has remitted and average of close to P2 billion yearly to the Bureau of Treasury,” said BCDA president and chief executive Arnel Paciano Casanova.
BCDA remitted to the Treasury P2.136 billion in 2011, P528.45 million in 2012, P2.389 billion in 2013, P2.207 billion in 2014 and P2.201 billion in 2015.
Casanova said of the P2.201 billion remitted to the Treasury last month, P500 million represented dividends to the national government.
Government-owned and -controlled corporations, including BCDA, are required to declare and remit at least 50 percent of their annual net earnings, pursuant to Section 3 of the Republic Act No. 7656.
Casanova said the remaining P1.701 billion was the share of several government beneficiaries from the proceeds generated from existing joint venture and lease agreements and assets disposed in 2014.
Proceeds from disposition of former military camp Fort Bonifacio, now developed into Bonifacio Global City, and the former Villamor Air Base, now Newport City, are to be shared with BCDA and named beneficiaries.
Under Administrative Order 236, certain government beneficiary agencies are entitled to the disposition proceeds. Getting the lion’s share is the Armed Forces of the Philippines at P1.499 billion.
The share of the other government beneficiary agencies amounted to P189.67 million. The remaining P12.75 million were shares of the local government units of Taguig, Pateros and Makati.
Casanova said BCDA also generated P65.348 billion from the disposition of former Metro Manila camps, the biggest of which are Fort Bonifacio and Villamor Airbase, for the period May 1993 to March 2015.
Data showed of the P65.348 billion in disposition proceeds for the past 22 years, the AFP got the lion’s share at P29.162 billion.