PTA sees over P1.7-billion earnings for 2005

Amid political turmoil, there is still profit in paradise.

Government-run resorts and other tourist destinations are expected to generate more than P1.7 billion in net earnings despite the economic and political woes that have beset the country this year.

Philippine Tourism Authority general manager Robert Dean Barbers said the PTA expects to exceed last year’s profit of P1.7 billion, contrary to reports that the agency is losing money.

"PTA is en route to a remarkable profit this year," Barbers said, adding that this profit will "enable us to cut our losses further." He added that the PTA continues to implement programs to improve the agency’s profits.

From annual losses of P40 million before Barbers assumed the post of PTA general manager, the PTA’s losses were reduced by 40 percent to P25 million.

"We continue to strive hard to minimize or, better yet, eliminate (the practice of) subsidizing our tourist entities and this considerably reduced subsidy means the PTA will generate millions in savings that would, in turn, be appropriated for more tourism infrastructure projects and the creation of more jobs."

He said the PTA has also been initiating privatization efforts to selected entities since early last year to boost the PTA’s financial viability.

"There were a lot of inquiries on the privatization program by local and foreign stakeholders," Barbers said. "However, they are still in a ‘wait and see’ mode and are observing the political developments in the country."

He said the early release of Christmas bonuses worth P19.5 million to the PTA’s 1,000 employees was recognition of the workers’ efforts in helping ensure the agency’s financial viability.

The bonuses given to PTA employees are part of the collective negotiations agreement (CNA) between the PTA management and its workers’ union and the Association of Dedicated Employees of Philippine Tourism (ADEPT), Barbers said. — Mayen Jaymalin