P85 B needed for AFP modernization

From the Philippine Star (Sep 30): P85 B needed for AFP modernization

More than P85 billion is needed for the modernization of the Armed Forces of the Philippines (AFP) in the next four years.

Data from the Department of National Defense (DND) showed that P85.29 billion will cover a total of 24 projects in line with the new Armed Forces Modernization Law.

Defense Undersecretary Fernando Manalo said no fund releases will be made for the program this year.

However, he is hopeful that the modernization efforts will be realized due to the support from the administration, he added.

The bulk of the funds for the upgrade program will come from general appropriations.

It will receive P15 billion per year from the national budget until 2017 for a total of P75 billion.

Another funding source is President Aquino’s commitment to provide P632.18 million to the program annually until 2015.

The President’s commitment will contribute P1.896-billion to the modernization program.

Another P4.78 billion will come from the proceeds of the Malampaya natural gas project.

About P1.215 billion will also be sourced from the Malampaya funds for the acquisition of a third all-weather, high-endurance cutter.

Remittances from the Bases Conversion and Development Authority (BCDA) are expected to hit P2.39 billion.

The Armed Forces modernization program gets about 35 percent of the proceeds.

Of the 24 projects to be implemented, 10 will benefit the Air Force, six the Navy, five the Army and three the general headquarters and Armed Forces Wide Support and Separate Unit.

To be acquired are 12 fighter jets, ammunition, rocket launchers, handheld radios, long range patrol aircraft, amphibious assault vehicles, frigates, anti-submarine helicopter, aerial radars, base support logistics and engineering equipment.

http://www.philstar.com/headlines/2013/09/30/1239736/p85-b-needed-afp-modernization