President BCDA Charter Amendment Bill Vetoed
President Ferdinand R. Marcos Jr., in a bold move, nixed a bill looking to revise the charter of the Bases Conversion and Development Authority (BCDA), as announced by his Presidential Communications Office on a Saturday spree.
Marcos, in a letter dated April 24, announced his concerns about the proposed amendments, which he argued could potentially butt heads with existing laws and deal a blow to the government's financial standing.
The President cautioned that some provisions in the enacted bill verge on financially irresponsible decisions, such as the suggested PHP100 billion boost in BCDA's authorized capital. Marcos worried that such an increase could compromise the government's fiscal integrity and stability.
Moreover, Marcos pointed out that the bill contradicts the government's one-fund policy, intended to consolidate resources for flexible use on pressing national matters. The bill's proposal to allocate most of the funds from selling lands in ecozones to BCDA could hamper this flexibility, according to the President.
Additionally, Marcos highlighted that the bill grants BCDA rights over land determinations—a power explicitly reserved for the Department of Environment and Natural Resources. Furthermore, the bill's language clashed with a Supreme Court ruling in Republic v. Heirs of Bernabe, asserting that the state is the actual beneficiary of lands transferred to the BCDA under Republic Act (RA) 7227, or the Bases Conversion and Development Act of 1992.
Despite acknowledging the bill's noble intentions, Marcos emphasized that these concerns needed to be addressed, as they were too significant to be glossed over.
The BCDA's contributions to the country's economic growth through various projects and partnerships remain uncontested. By partnering with the private sector, the BCDA has completed crucial public infrastructure, such as tollways, airports, seaports, and major real estate developments.
Some of its significant achievements include the creation of economic hubs, including Bonifacio Global City and Newport City, and the completion of the 93.77 km. Subic-Clark-Tarlac Expressway. The BCDA is also working diligently to establish Clark as the next investment powerhouse in Asia through ambitious projects like New Clark City and the Clark International Airport expansion.
In summary, Marcos shelved the bill to maintain fiscal responsibility, ensure adherence to existing laws, and uphold government policies regarding land and financial management.
Sources: 1.Press Release from the Office of the President. April 24, 2023. 2.Enrolled Copy of Senate Bill No. 365. March 27, 2023. 3. Republic v. Heirs of Bernabe. G.R. No. 129814, April 16, 2002. 4.Government Procurement Policy Board, One-Fund Policy for Public Procurement, April 2, 2008. 5.Government-Owned and Controlled Corporations Act of 2022 (Republic Act No. 11602). February 11, 2023.
- President Marcos Jr.'s decision to veto a bill revising the Bases Conversion and Development Authority (BCDA) charter is driven by concerns about potential conflicts with existing laws and negative impacts on the government's economy.
- In his letter, Marcos expressed apprehension over some provisions he deems financially irresponsible, such as the proposed PHP100 billion increase in BCDA's authorized capital, which could jeopardize the government's fiscal integrity.
- The President also highlighted that the bill contradicts the government's one-fund policy, intended to consolidate resources, and could compromise the flexibility needed to address national issues.
- Marcos noted that the bill grants BCDA the power to make land determinations, a responsibility reserved for the Department of Environment and Natural Resources, and conflicts with a Supreme Court ruling regarding land ownership.
- Despite acknowledging the bill's positive intentions, Marcos emphasized the need to address these concerns to preserve fiscal responsibility, adhere to existing laws, and maintain consistency in policy-and-legislation.
- The BCDA, a key contributor to Manila's business environment and general news, has completed infrastructure projects and developed economic hubs like Bonifacio Global City and Newport City, and is currently working to establish Clark as the next investment powerhouse in Asia.
