Subic port posts P2B in revenue

SUBIC BAY FREEPORT, Philippines—The port of Subic generated more than P2 billion in revenue from January to April, exceeding by 25 percent the collection in the same period last year.

Records from the Subic Bay Metropolitan Authority (SBMA) showed that Subic’s cash collection performance in the first four months this year reached P2 billion, surpassing last year’s record of P1.6 billion.

The port here registered a P30-million surplus in customs revenue as shown in its cash collections against target for January-April this year.

In April alone, the Bureau of Customs (BoC) surpassed the target of P622 million by P1 million, the highest monthly cash revenue so far this year for the SBMA.

The port of Subic registered the highest monthly surplus on its cash collections in January when it exceeded its target by P25.61 million. The surplus in March reached P21.92 million although collection in February fell short by P18.54 million, the BoC said.

With this development, the port of Subic becomes one of the top performing ports in the country, joining Limay (Bataan), which recorded a surplus of P456 million; Davao, with P39 million; Zamboanga, with P500,000; Legazpi, with P100,000; and Clark, with P10,000.

Reports from the BoC’s Subic district office said cash collections here were derived from duties and taxes paid for ship calls, transshipment operations and the importation of oil, motor vehicles and other general merchandise.—Robert Gonzaga, Inquirer Central Luzon