The amount, formally turned over to the Bureau of the Treasury (BTr) on May 15, reflects 80 percent of BCDA’s net earnings for 2024—significantly higher than the 50 percent minimum required under the Dividend Law (Republic Act 7656) and even surpassing the Department of Finance’s call for government-owned and -controlled corporations (GOCCs) to remit at least 75 percent of net earnings .
This is in addition to the ₱3.13 billion in asset disposition proceeds remitted to the BTr, which will be distributed to various beneficiary agencies including the Armed Forces of the Philippines (AFP), as well as ₱46 million in guarantee fees related to the government’s loan from the Japan International Cooperation Agency for the Subic-Clark-Tarlac Expressway Project.
The total remittance from BCDA to the Treasury stood at ₱5.21 billion as of mid-May 2025.
BCDA President and CEO Joshua M. Bingcang said this milestone is a reflection of the agency’s fiscal strength and commitment to transforming former military bases into dynamic economic zones through public-private partnerships.
“These dividends will not only contribute to government coffers but also help fuel inclusive and sustainable economic growth,” he said.
BCDA is mandated under Republic Act 7227 to support the AFP Modernization Program and other agencies through revenues from converted military lands. —Ed: Corrie S. Narisma
