This success is attributed to the stringent enforcement of the Cash and Carry System in which payment in cash, manager’s/cashier’s check or PPA pre-approved company check is made by the parties primarily liable — such as shipping lines, shippers, or consignees
Healthy state of trading boosted revenue collections of the Philippine Ports Authority, or PPA, to P25.4 billion earnings last 2023.
Citing data from the PPA, it said that robust revenue collection made by its Port Management Offices, the PPA earned a total of P25.4 billion, based on the unaudited financial statement for calendar year 2023, demonstrating a remarkable performance by exceeding a P20.4 billion revenue in 2022, which was a record high.
PPA said only 0.37 percent were accounts receivable from port dues of vessels, cargo charges, rentals and other miscellaneous fees.
The overall collection efficiency ratio for CY 2023 stood at an impressive 99.12 percent, a testament to PPA’s efficacy in collecting government revenues, the PPA statement on Monday, added.
“This success is attributed to the stringent enforcement of the Cash and Carry System in which payment in cash, manager’s/cashier’s check or PPA pre-approved company check is made by the parties primarily liable — such as shipping lines, shippers or consignees — prior to withdrawal of cargoes from the port or loading of cargoes unto the vessel for charges against cargoes or before departure of the vessel for charges against the vessel,” the statement explained.
Contractual deals
Moreover, the PPA said they also ensures strict compliance from port customers with their contractual obligations and other rules and regulations set forth by the PPA.
As a government-owned and controlled corporation, or GOCC, it is within PPA’s mandate to supervise, control, regulate, construct, maintain, operate, and provide facilities and services necessary in the ports nationwide under its jurisdiction.
Based on the Governance Commission for GOCCs’ Memorandum Circular 2014-10, there are 25 PPA Port Management Offices across the country.
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