Filtered By: Topstories
News

PNoy seeks cost-benefit analysis before selling AFP lands


President Benigno Aquino III wants to be careful in the privatization of properties owned by the Armed Forces of the Philippines, according to Budget Secretary Florencio Abad. In an interview with reporters, Abad said the President asked for a cost-benefit analysis on all AFP-owned properties being eyed for sale to private real estate developers “because you have to project also what the situation is years from now." “He has said that I think we should be careful about surrendering ownership because we don’t know what we will need 25 years from now. So he said let’s take a look at it," said Abad, quoting Aquino. “Land is finite and therefore it is a resource that once you part with, you forever lose," Abad added. The privatization of military assets was among the topics discussed during the command conference attended by AFP and defense department officials at Camp Aguinaldo in Quezon City on Wednesday morning, Abad said. He admitted that if the AFP properties are immediately privatized, the earnings “would be much bigger, but other considerations have to be considered." “The idea is to find ways to support the modernization program as well as the requirements of the Armed Forces," he said. The proceeds of the sale or lease of AFP lands would go to the military modernization program. The budget secretary added that the President, who presided over the command conference, has yet to make a decision because he wants to see the study first. Asked if the President gave a deadline on when the cost benefit analysis should be submitted, Abad said “there is urgency in supporting the AFP modernization program and therefore our ability to proceed with the modernization program will depend on how much funding is available."—Amita O. Legaspi/JV, GMA News

LOADING CONTENT