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BCDA seeks AFP backing for charter amendment bill

Published Sep 25, 2023 04:40 am

At A Glance

  • The Bases Conversion and Development Authority (BCDA) is seeking support from the Armed Forces of the Philippines (AFP) to pass a bill extending the corporate life of the state-owned firm.<br>The proposed bill, currently pending in Congress, aims to boost funds for the BCDA's modernization program and support the military's pension fund.<br>BCDA President and CEO, Joshua M. Bingcang, stated that passing the bill would unlock economic zone potential, contribute to the AFP Modernization Program, pursue military replication projects, strengthen collaboration with the AFP, and prioritize the military pension fund as directed by President Bongbong Marcos.<br>The BCDA is actively seeking for the passage of House Bill No. 8505, which seeks to amend the Bases Conversion and Development Act of 1992 (Republic Act No. 7227).

The Bases Conversion and Development Authority (BCDA) is asking for the support of the Armed Forces of the Philippines (AFP) to pass a bill that would extend the corporate life of the state-owned firm.

In a statement, Joshua M. Bingcang, BCDA president and chief executive officer, said the pending bill in Congress would strengthen the government’s financial resources for the modernization program and provide support for the military's pension fund.

The BCDA is pushing for the approval of House Bill No. 8505, which aims to make amendments to the Bases Conversion and Development Act of 1992 (Republic Act No. 7227).

“The bill amending RA 7227 will help us better perform our mandate of helping strengthen the AFP,” Bingcang said during the 27th AFP Forum on BCDA’s role in the AFP Modernization Program.

Bingcang said that leveraging the potential of economic zones would support the AFP modernization program, facilitate military replication projects, enhance collaboration with the AFP, and give priority to the military pension fund, as directed by President Marcos.

The current remaining corporate life of the BCDA is 19 years.

Following this, the proposal also sought to increase the authorized capital of the BCDA from P100 billion to P400 billion. Additionally, they aim to convert five percent of the authority’s economic zones to freehold status from leasehold.

Through this, they can release 1,856 hectares of land to generate a revenue of P400 billion. This amount would be set aside for the military pension fund.

BCDA also sought support from around 100 officers and members of the General Headquarters Units, Major Services, and Unified Commands of the AFP.

The BCDA’s modifications in the bill are part of House Bill No. 8505, which strengthens the authority’s management in former military bases. This was recently passed on the third reading last Aug. 22.

From May 1993 to July 2023, the BCDA’s gross disposition proceeds amounted to P59.71 billion and were allocated to the modernization program of the military. 

This allotment gave the AFP monetary assistance in terms of crises and defense against threats in the country.  (Gabriell Christel Galang)

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Bases Conversion and Development Authority (BCDA) BCDA
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