THE Port of Manila (POM) will likely exceed its 2010 collection target.
As of December 7, the port already collected P50.29 billion or P90 million more than its P50.2-billion target for 2010. Of the amount, 71% or P35.73 billion was contributed by the Formal Entry Division.
The preliminary total represents only cash collections. If deferred payments are factored in, the surplus would balloon to about P3 billion for the entire year.
"This year’s collection was a significant improvement compared with our revenues last year of just P38.9 billion or about 33% below our target," POM district collector Rogel Gatchalian said.
"With 15 calendar days to go, it is expected that the port’s collection surplus will still approximately be P3 billion," he added.
Gatchalian said hitting the target at this time is a feat considering the implementation of various free trade agreements that effectively reduced tariff rates, and other external factors such as strengthening of the peso against the US dollar.
For the period in review, imports at the port reached 8,218 metric tons with a dutiable value of P235 billion.
The BOC has a P280.68-billion revenue goal for the year although this now seems unlikely to be met. As of November, the agency’s deficit collection has reached P30.1 billion.
