BCDA generates P3B in 2012 from sale of former camps

ABS-CBN News

Posted at Jan 31 2013 04:52 PM | Updated as of Feb 01 2013 12:52 AM

MANILA, Philippines - The Bases Conversion Development Authority (BCDA) has raked in P3.31 billion last year from the disposition of former military camps in Metro Manila.

The latest figure is more than double the P1.46 billion generated in 2011, the agency said in a statement on Thursday.

The increase in disposition proceeds was owed to "prudent financial management and more efficient collection efforts," BCDA said.

BCDA also noted total disposition proceeds from May 1993 to December 2012 now stands at P56.657 billion, bulk or P23.433 billion of which went to the Armed Forces of the Philippines for its modernization programs.