PPA beats revenue goal, collects P8.9B
Regulator cites improved efficiencyBy Paolo G. Montecillo
Philippine Daily Inquirer
MANILA, Philippines—Government revenues from the various freight and passenger ports around the country inched up in 2012 amid higher cargo volumes and improved collection efficiency, data released last week showed.
In its annual report, the Philippine Ports Authority (PPA), which regulates all sea ports in the Philippines, said gross revenues reached P8.90 billion for 2012. This was 4.45 percent higher than the previous year’s P8.57 billion.
The PPA said the increase came mainly from traditional sources, such as fees from ship calls and cargo movement, remittances from private port operators and cargo handling fees.
The higher earnings allowed the agency to “sustain its operation and infrastructure development,” the PPA said in its report submitted to the Department of Transportation and Communications (DOTC).
The PPA’s total revenue was also higher than its target for the year of P8.73 billion. The PPA cited its better performance “in terms of cargo volume, higher container traffic, and larger vessels.”
Last year, the DOTC said it would bid out contracts for the improvement of 10 provincial seaports estimated at P474 million.
About P230 million will be used to improve the Port of Zamboanga in Zamboanga del Sur. New wharves as well as two roll-on, roll-off ramps will be constructed at the port.
Also, the Port of Masbate in Bicol will get P71 million for the construction of a new wharf, the installation of rubber dock fenders to accommodate bigger vessels, and other “furnishing accessories.”
Ports in Cagayan de Oro, Iligan City, Ozamiz City, Albay, two ports in Roxas City and two ports in Iloilo—all operated by the PPA—are also up for improvement.
Short URL: http://business.inquirer.net/?p=108037