The state-run Bases Conversion and Development Authority (BCDA) remitted a total of P1.874 billion to the National Treasury for the AFP Modernization Fund for the first 5 months of the year 2011.
BCDA President and CEO Arnel Casanova said that in the month of May alone, the BCDA remitted P29 million .
BCDA has generated P51.021 billion From May 1993 to end-May 2011
and has remitted P33.045 billion.
Of this amount, P21.223 billion went to the AFP
P11.727 billion for the AFP Modernization Program and
P9.496 billion for the replication of military facilities.
The rest are national and local taxes and fees, replication of non-military facilities and housing, and compensation for informal settlers made to the Bureau of Internal Revenue (BIR) and local government units (LGUs).
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