MANILA, Philippines– President Ferdinand R. Marcos Jr. has vetoed a bill seeking to amend the charter of the Bases Conversion and Development Authority (BCDA), citing legal conflicts and fiscal concerns.
The Presidential Communications Office (PCO) announced the veto on Saturday, following the President’s formal message issued on April 24.
While acknowledging Congress’s intent to strengthen the BCDA’s role in economic development and infrastructure, Marcos flagged provisions he said clashed with existing laws and government policies.
Chief among them was the proposed ₱100 billion increase in authorized capital and provisions conflicting with the government’s one-fund policy.
He also raised concerns over clauses that would grant the BCDA ownership over land, which he said contradicts established legal precedents.