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Part of AFP home to be sold

Published on Tuesday, 18 December 2012 00:00
Written by IRMA ISIP [ Malaya.com.ph ]
Malaya Business News Online - Philippine Business News | Online News Philippines
The Bases Conversion and Development Authority (BCDA) will  push for the privatization of part of Camp Aguinaldo in Quezon City not only to help raise funds for the modernization of the Armed Forces but to also protect the asset.
BCDA president and chief executive officer Arnel Casanova in a conference said the BCDA will only privatize portions of the camp which were not part of the donation of the Ortigases.
The deed of donation specifically prohibits the use of the land other than military purposes.
The area  tied to the donation will be retained and would be developed as site for a Pentagon-like hub where all military installations (Army, Navy, Marines) can hold office.
“We need to modernize the AFP and budget from the GAA (General Appropriations Act) is not enough. The Armed Forces need a stable source of funds,” said Casanova.
Under Executive Order 309, the AFP gets 50 percent of net proceeds from non-sale transactions of BCDA.
Casanova also said there is a number of  idle lands in Camp Aguinaldo which could be vulnerable to professional squatting and landgrabbing.
A master plan would be drawn up to determine the best use of the property as well as the cost but Casanova said it could run into “a few billion pesos.”
The engagement of the master plan would be done in January.
Since the establishment of the BCDA in 1992, it has generated gross disposition proceeds of P56.597 billion of which P21.7 billion went to the AFP.
Bulk of the proceeds were derived from Fort Bonifacio and Villamor privatization.
On the average, the BCDA remits P2 billion to the AFP every year.
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