State-owned Bases Conversion and Development Authority (BCDA) expects to breach the PHP100-billion remittance level to the national government this year as investments and revenue generation also soared.
“I think we are going to breach the PHP100-B remittance mark this year,” said BCDA President and CEO Joshua Bingcang.
BCDA’s cumulative remittance to the national government from May 1993 to May 2025 already hit PHP96 billion. Of this amount, PHP78 billion were proceeds from the disposition of its properties. Other revenue source include the PHP12.1 billion in dividends.
Bingcang proudly showed that because of its economic contribution to the national coffers, the Governance Commission for Government owned and Controlled Corporations (GCG) has upgraded the GOCC to the highest governance category and tier.
“Because of our good governance, GCG, I think last week of July, we were already upgraded by GCG under Category A and Tier 1,” said Bingcang. This means, BCDA is now in the same league as LandBank of the Philippines, Social Securities System, and Government Service and Insurance System.
BCDA should have been in this category before but failed to meet the employment cut as it has only less than a thousand workers. “But GCG evaluated us under the strategic contribution or revenues of strategic importance,” he said. Its strong revenue contribution made it to the cut.
