THE Port of Manila (POM) exceeded its target collection in March by 26.7% due to the positive performance of all its 15 collection divisions.
The POM collected P4.35 billion, P1.16 billion higher than its target, based on the latest data from the Bureau of Customs (BOC). For the same month last year, the port netted a lower-than-expected P3.06 billion.
POM’s Formal Entry Division comprised the bulk of collections, raking in P2.67 billion, P353.07 more than the target while its sub-port — the Manila Harbour Centre — surpassed its goal by 22% to P590 million.
The Informal Entry Division topped its target by 44%, and the Miscellaneous Manufacturing Bonded Warehouse Division by 21%.
The Public/Private Bonded Warehousing Division registered a 36% surplus; Garments and Textile Manufacturing Warehouse Division, 1%; Masinloc, 1%; Cavite Customs Office, 21%; Laguna Customs Office, 25%; Postal Customs Office, 71%; Bonds Division, 25%; Warehouse Assessment Division, 546%; Auction and Cargo Disposal Division, 73%; Food Terminal Inc., 116%; and Liquidation and Billing Division, 254%.
The BOC data also showed that the POM generated P17 million in additional revenues from its valuation and classification review committee and P3.67 million from the payment of unpaid duties and taxes from five surety companies.
In the first three months of the year, the BOC exceeded its collection after posting P59.029 billion compared to its target of P55.1 billion.
For March alone, the bureau collected P23.353 billion versus the target of 19.61 billion. BOC this year is tasked to collect P273 billion.
