The state-owned Bases Conversion Development Authority (BCDA) said on Wednesday that it recorded cash inflows of P6.02 billion in 2013 or an P850-million increase from the P5.17 billion it recorded in 2012, because of its efficient collection efforts and resolution of problematic accounts.
“We are very pleased with the results of our collection efforts that has translated to the BCDA’s increased cash inflows, which will augur well not only for the BCDA but for the government as well,” said Arnel Paciano Casanova, BCDA president and chief executive officer.
He noted that the P6.02 billion also surpassed BCDA’s 2013 collection target of P5.847 billion by P175 million.
Casanova added that the increased collection can be attributed to the agency’s efficient collection, resolution of problematic accounts, successful negotiations of lease payments, successful disposition of properties and payment of dividends from subsidiaries. BCDA collected from Megaworld Corp. the P873-million minimum annual secured revenue share for the year 2013, arising from the Jusmag disposition in 2010.
Casanova said among the unprogrammed collections include the successful negotiations of lease payments from the Manila International Airport Authority on the land where the Ninoy Aquino International Airport (NAIA) 3 is currently located, which belongs to the BCDA, and the payments made by the Department of Public Works and Highways for the right-of-way of the North Luzon Expressway and the NAIA Expressway Road.
Pursuant to Republic Act 7227, the BCDA is mandated to accelerate the conversion into productive economic uses of the former US military bases in Clark and their extensions in Camp John Hay and Poro Point. These conversions are funded through the sale and disposition of Metro Manila camps, such as Fort Bonifacio and the Villamor Air Base, while also contributing a large portion of the proceeds to the Armed Forces of the Philippines Modernization Program.
The Subic-Clark-Tarlac Expressway is also a BCDA project that connects the Subic Seaport and Clark International Airport, thereby creating a global gateway for the efficient movement of people, goods and services within Central Luzon and neighboring regions, an advantage valued by the locators in this age of just-in-time production and delivery.
Casanova added that an upcoming project of the BCDA is the Clark Green City—practically a new city half the size of Metro Manila to rise in Clark.