Port of Manila exceeds June collection target

Cash collection by the Port of Manila (POM) exceeded its June target of P6.03 billion by a surplus of P161.14 million, which is equivalent to a positive deviation of 2.68 percent.

The June performance brought the cumulative collection for the first half of 2006 to P32.90 billion which is over by P1.97 billion versus target or a surplus of six percent.

The reported revenue figures do not reflect the non-cash collections which include deferred payments by government accounts, payments made through the application of Tax Credit and exempted importation.

Based on statistics, POM now contributes 36 percent of the revenues collected by the entire Bureau of Customs. The remaining 64 percent are collected by the Bureau’s 13 collection districts nationwide.

To port users and observers, POM’s outstanding performance is praiseworthy considering that it was realized in the midst of the government’s progressive tariff reduction program. In the next few years, the country is expected to implement zero rate of duty in accordance with the World Trade Agreement (WTA).

Collector Horacio Saunsing Jr., who took over as POM district collector in June last year, explained that the district’s outstanding performance was achieved because of the support of port personnel and their capability to work as a team.