The Senate approved on Second Reading a bill sponsored by Senator Alan Peter Cayetano that seeks to amend the Bases Conversion and Development Authority (BCDA) charter in order to strengthen and expand the powers of the government-owned and controlled corporation (GOCC).
Following the period of amendments, Senate Bill No. 2647, which Cayetano sponsored during his tenure as chair of the Senate Committee on Government Corporations and Public Enterprises, is now poised for Third and Final Reading.
During past Senate plenary sessions, Cayetano emphasized the crucial role of the BCDA in national development, particularly through the creation and improvement of economic zones that drive economic growth and help decongest Metro Manila.
“It could really pull the massive urbanization out of Metro Manila and spur development in Central Luzon.”
“If we develop Bulacan and Clark economic zones correctly, it could really be a twin engine of development in our country, and it could really pull the massive urbanization out of Metro Manila and spur development in Central Luzon,” the veteran legislator said in his sponsorship speech recently.
The proposed amendments include provisions to allow the strategic sale of certain portions of former military bases, such as the Clark Freeport and Special Economic Zone, Camp John Hay, Bataan Export Processing Zone, and Poro Point Freeport Zone.
“The heart of this bill is allowing the sale of five-plus-five percent of our former military bases.”
“The heart of this bill is allowing the sale of five-plus-five percent of our former military bases,” the seasoned lawmaker explained during the interpellation period of the bill.
“As long as it is limited to this five-plus-five percent, it will be a win-win-win — win for the workers, win for the developers, and win for the BCDA,” the senator added.
Additionally, the bill proposes extending the BCDA’s corporate term by another 50 years and allocating a portion of the net proceeds from land sales to the Armed Forces of the Philippines (AFP) Pension Fund.
He also introduced a key addition to the bill that ensures existing lease contracts will not be affected by the proposed charter amendment.
With Senator Mark Villar now chairing the Senate Committee on Government Corporations and Public Enterprises, Cayetano remains optimistic about the bill’s eventual passage.
“It is in good hands with Senator Mark Villar, and hopefully we will come up with an even better bill with his insights,” he concluded.
