Cebu port posts P5-B monthly revenue record

CEBU CITY — The Bureau of Customs (BoC)-Port of Cebu recorded a historic P5-billion revenue collection in October, marking the first time the port has surpassed the milestone in a single month.

Based on documents furnished to the media, the port collected P5,007,907,526.16, its highest monthly revenue collection on record.

“The October performance was indeed a good run,” BoC Assessment Division officials said.

“Though short of the P5.2-billion target, the collection effort of P5.007 billion was historic, being the highest registered revenue since,” they added.

The port, however, fell short of its October collection target of P5,215,995,760.91.

Officials attributed the shortfall partly to the high collection target and the delayed arrival of two international vessels due to the typhoon.

Despite missing the monthly target, BoC Cebu district collector Atty. Czae Carrie de Guzman expressed optimism that the port would meet its revenue collection goals during the remaining two months of the year, November and December.

From January to October, the Port of Cebu collected P43,790,264,583.15 against its target of P44,273,714,076.34.

This represented a shortfall of P483,449,493.19, or 1.09 percent below the target.