MANILA, Philippines, October 1 ------ The House of Representatives is eyeing a higher allocation including by tapping confidential and intelligence funds for the protection and defense of the country’s maritime territory, especially in the West Philippine Sea.
“The Speaker and President Marcos instructed us to earmark funds, confidential and intelligence funds, to protect our area. Unfortunately, I’m not at liberty to disclose that amount here, or give details because of the nature of our security there,” Rep. Zaldy Co said in an interview over dzRH radio. “We will take care of that. It’s good that we have readily available funds for that. At least, it will not be zero,” Co, chairman of the House appropriations committee, said, referring to China’s provocative acts in the West Philippine Sea. “Under the administration of President Marcos and Speaker (Martin) Romualdez, we assure you that funds will definitely be available specifically for that purpose,” he added.
Told in the interview of the need to upgrade the capability of the Philippine Coast Guard and Philippine Navy, Co said: “Yes, definitely. “But I’m sorry if we cannot give details for those,” the lawmaker said. He said the government may even just “copy” Beijing’s tact of deploying militia vessels disguised as civilian or fishing vessels. “We will also do that now, and we’re prepared for that, that’s why we’re ready to load financial support for such endeavors,” the senior administration lawmaker said. In a statement, the Bases Conversion and Development Authority (BCDA) said the proposed amendments to the Bases Conversion and Development Act of 1992 or Republic Act 7227 are expected to bring benefits to the Armed Forces of the Philippines (AFP). “By further unlocking the potential of our economic zones, we would be able to continue contributing to the AFP modernization program and pursue replication projects for the military, fortify our collaboration with the AFP, as well as support the military pension fund, which is a priority of President Bongbong Marcos,” BCDA president and chief executive officer Joshua Bingcang said.
Under House Bill 8505, BCDA’s corporate term will be extended for another 50 years from its current remaining corporate life of 19 years. The extension will enable BCDA to continue its mandate of helping beef up the AFP by supporting its modernization efforts. The bill also seeks to increase the BCDA’s authorized capital to P400 billion from P100 billion. In addition, it aims to convert five percent of BCDA’s economic zones to freehold status from leasehold. BCDA estimates this provision would free up 1,856 hectares of land, which can potentially generate at least P400 billion worth of revenues. Of the revenue to be generated, the BCDA said a portion may be earmarked for the military pension fund.
House Bill 8505 was passed on third reading last Aug. 22, while the Senate counterpart measure is currently being prepared for filing. “The great sacrifices of our troops to ensure peace across the nation and safety of our fellowmen deserve the support it needs. As BCDA moves on to the next chapter, we will ensure that our commitments to the AFP are delivered on time and aligned according to the agreed timeline by all parties involved and that the right amount of remittances are declared,” BCDA chairman Delfin Lorenzana said.
Source: philstar.com
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