Manila, Nov. 12 -- The Bases Conversion and Development Authority (BCDA) has remitted PHP8.42 billion in asset disposition proceeds to the Bureau of the Treasury (BTr) to support the modernization of the Armed Forces of the Philippines (AFP) and other critical socioeconomic programmes.

BCDA President and Chief Executive Officer Joshua Bingcang formally handed over the amount to Finance Secretary Frederick Go at the Department of Finance office in Manila on November 12, 2026.

With this latest remittance, BCDA's total asset disposition contributions for 2026 have reached PHP11.5 billion, representing a 267% increase from the PHP3.1 billion recorded in 2025. Including PHP2.6 billion in dividend remittances transferred in May, the agency's ...