State-run Philippine Ports Authority (PPA) on Wednesday reported generating revenue totaling P25.4 billion last year or 25 percent higher than only P20.4 billion in 2022.
The port authority attributed the high revenue collection to an efficiency ratio that mirrors the robust revenue collection of its Port Management Offices (PMOs).
The agency’s overall collection efficiency ratio in 2023 averaged 99.12 percent and testament to the PPA’s efficacy in collecting government revenue.
“This success is attributed to the stringent enforcement of the Cash and Carry System in which payment in cash, manager’s or cashier’s check or PPA pre-approved company check is made by the parties primarily liable – such as shipping lines, shippers, or consignees – prior to withdrawal of cargoes from the port or loading of cargoes unto the vessel for charges against cargoes or before departure of the vessel for charges against the vessel,” the PPA said.
The agency also ensures strict compliance of port customers with their contractual obligations and other rules and regulations set forth by the PPA.
As a government-owned and controlled corporation (GOCC), it is the PPA’s mandate to supervise, control, regulate, construct, maintain, operate, and provide facilities and services in the ports nationwide. The PPA has 25 PMOs across the country.
