In 2000, the DOTC and its attached agencies generated P23.07 billion. Target revenue for 2001 was P24.41 billion.
"The DOTC was able to surpass the target revenue due to the strengthened and enhanced efforts of all attached agencies," Alvarez said.
Income of the Metro Rail Transit was P1.29 billion, a hefty 139 percent increase from the P543 million in 2000.
The highest earner among the attached agencies was the Land Transportation Office, which posted revenues of P5.35 billion. It was followed by the Philippine Ports Authority (PPA) and the Manila International Airport Authority (MIAA) with incomes of P4.61 billion and P4.51 billion, respectively.
Combined earnings of the air transport sector alone was P6.6 billion. Performance of the other sectors are as follows: road, P5.6 billion; rail, P2.9 billion; and communications, P5.8 billion.
Meanwhile, Alvarez predicted that vehicle registration is expected to increase significantly this year because of "strengthened consumer buying power and relaxed loan guidelines by financial institutions."
He noted that in January alone, some 387,529 units were registered with the LTO. A total 358,191 units were registered during the same period last year. – Sheila Crisostomo