The Bases Conversion and Development Authority (BCDA) last week turned over an additional P1 billion to the Bureau of Treasury, bringing total remittances for 2014 to P3.2 billion.
The latest remittance represented the agency’s partial payment of guarantee fees for the Subic-Clark-Tarlac Expressway (SCTEx) for 2014, BCDA president and CEO Arnel Paciano D. Casanova said Wednesday in a statement.
“Considering that the BCDA is not a gaming or banking related government-owned and -controlled corporation, we are quite happy with our performance. The P3.2 billion that we have remitted will go a long way in funding the Aquino Administration’s socioeconomic programs and projects, as well as the Armed Forces of the Philippines Modernization Program,” Casanova said.
The BCDA is the builder and owner of the 94-kilometer SCTEx, which was funded through a concessional loan from the Government of Japan through the Japan Bank for International Cooperation (JBIC).
Last March, the BCDA remitted P2.201 billion to the national treasury, representing the government’s dividend share and the share of government beneficiary agencies from BCDA’s asset disposition proceeds. Amy R. Remo