Finance Secretary Ralph G. Recto has lauded the Bases Conversion and Development Authority (BCDA) for remitting PHP 5.17 billion to the National Treasury and expanding more economic opportunities for Filipinos.
The remittance is in line with President Ferdinand R. Marcos, Jr.’s directive to uphold fiscal discipline among government-owned or -controlled corporations (GOCCs), ensuring that the government maximizes non-tax revenues to fund priority programs without the need to impose new taxes on the people.
The BCDA remitted PHP 2.04 billion in cash dividends to the Bureau of the Treasury (BTr)––the highest amount it has ever contributed and consisting of 80% of its net earnings in 2024.
This amount exceeds the Department of Finance’s (DOF) directive for Government-Owned and Controlled Corporations (GOCC) to remit 75% of their net income.
On top of this, the BCDA remitted PHP 3.13 billion as a share of its asset disposition proceeds collected in 2024, making its total contribution reach PHP 5.17 billion.
“You are proof that when professionalism meets patriotism, it results in progress for all,” the Finance Chief said in his speech at the ceremonial turnover on June 16, 2025.
“[H]indi lang kayo tumutupad sa tungkulin—lumalagpas pa kayo. Boundary na, may bonus,” he added.
“The 5.17 billion pesos can build around 2,000 classrooms. Or buy fertilizer for more than half a million hectares of rice land. Or a quarter billion hot meals for our children. If channeled to its mandated beneficiary, the AFP, it can boost the welfare and the weaponry of our fighting men,” he added.
On behalf of the DOF, Secretary Recto pledged to strongly support the BCDA to harness more value out of its asset portfolio, which in turn could boost its income and dividend contributions to the government.
“Every idle land you turn into a wealth-creating hub becomes a job generator, a talent magnet, an income booster, and a hope multiplier,” the Finance Chief stressed.
“The railway alone to Clark and the subway to BGC are the state’s vote of confidence on the continuing viability of baselands conversion. Ginagawa natin ito upang patuloy tayong makahikayat ng mas maraming investors at mabigyan ng mas marami oportunidad ang ating mga kababayan na umasenso,” he added.
“For this is what Bagong Pilipinas demands of us: not just good governance from above, but genuine transformation on the ground, a feat of which the BCDA is no stranger to, having been a forerunner in this field,” the Finance Chief added.
“As we move forward, the BCDA remains fully committed to doing our part to grow regional economies, unlock more opportunities, and help build a stronger and more inclusive Philippines,” BCDA President and CEO Joshua Bingcang said in response.
The BCDA is a GOCC mandated to help strengthen and modernize the Armed Forces while establishing integrated developments, dynamic business centers, and vibrant communities. Key examples of these include the Bonifacio Global City, New Clark City, and Newport City.
Present during the ceremonial turnover were DOF Chief of Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco, Privatization and Partnerships Group (DOF-PPG) Undersecretary Catherine Fong, Corporate Sector and Strategic Infrastructure Group (DOF-CSSIG) Assistant Secretary Eufrocinio Bernabe Jr., National Treasurer Sharon Almanza, BCDA Chairman Hilario Paredes; and BCDA President and CEO Bingcang.
