State-run Bases Conversion and Development Authority said Monday it remitted P134.66 billion to the government from 1993 to 2022.
“There are several factors contributing to the total gross proceeds. The highest, so far, were proceeds from joint ventures that amounted to P62.52 billion in the last 29 years, followed by sale of assets at P41.13 billion, lease of assets at P11.91 billion and P19.1 billion for other receipts,” BCDA president Aileen Zosa said in a briefing at the Bonifacio Global City.
The biggest chunk of proceeds went to the share of the Armed Forces of the Philippines and amounted to P56.4 billion or 42 percent of the total.
BCDA is expected to remit P5 billion to the national treasury this year, with plans to front load P3.5 billion by April, she said.
Total remittance in 2022 reached P7.53 or 64 percent higher than P4.599 billion in 2021.