The Philippine Ports Authority (PPA) has achieved a record-breaking revenue of P27.30 billion in 2024, marking the highest annual collection since its founding in 1974. This represents a 7.29 percent increase from only P25.45 billion in 2023, based on preliminary data.
PPA general manager Jay Santiago attributed the strong results to the administration’s economic reforms, particularly those promoted by President Ferdinand R. Marcos Jr., aimed at liberalization, privatization, and globalization. Santiago also credited the agency’s strategic management decisions and the successful implementation of the Port Terminal Management Regulatory Framework (PTMRF).
Key factors contributing to the revenue growth include the awarding of a 25-year concession to International Container Terminal Services Inc. (ICTSI) for the Iloilo Commercial Port Complex, as well as the 15-year port terminal management agreement with Mega Lifters Cargo Handling Corp. for Pasig Port. Since June 2021, PPA has privatized the operations of 28 terminals across the country.
The increase in wharfage dues, up 16.53 percent compared to 2023, alongside a significant rise in both domestic (55.07 percent) and international (6.21 percent for imports, 17.37 percent for exports) wharfage volumes, further underscores the agency’s financial growth.
“This performance reflects our robust financial standing, demonstrating our ability to meet obligations and ensure long-term financial stability,” Santiago said.
Looking ahead to 2025, PPA remains focused on delivering modern, sustainable port infrastructure and is optimistic about continuing to surpass revenue targets in the years ahead, benefiting the Filipino people.
