The Land Transportation Office (LTO) has recorded a 34.07-percent increase in revenue collection from January to May compared to the same period in 2023, indicating that the P33- billion revenue collection target of the agency for 2024 is on the right track.
“From our law enforcers on the roads and our personnel on desks of our frontline services up to the regional offices and the central office, everyone has contributed a lot in achieving this accomplishment,” LTO chief Vigor Mendoza II said.
“Under the guidance of our Transportation Secretary Jaime Bautista, we will sustain our efforts to accomplish our revenue collection target because this target revenue is essential in the delivery of basic services to the Filipino people under the Bagong Pilipinas of our President Ferdinand Marcos Jr.,” he added.
From P12.8 billion revenue collection during January to May 2023, LTO data disclosed that the revenue collection for the same period in 2024 was around P17.19 billion.
He credited the significant increase to the regional directors and other officials and personnel of the agency’s innovative and aggressive measures to meet their revenue target Upon his assumption of office in July 23, Mendoza conducted data analysis and financial assessment in the LTO that led to a P33-billion revenue collection for 2024 which he described as “high but doable.”
Based in the LTO data, all the revenue sources recorded significant increase — a 15.33- percent increase in motor vehicle users charge from P8.6 billion to P9.9 billion and a 10.5- percent increase in driver’ license transactions from P1.479 billion to P1.634 billion.
The aggressive law enforcement activities also resulted in a 25.26-percent increase for revenues from the law enforcement and traffic adjudication system, and a 128-percent growth in other revenue sources of the agency.
The LTO chief was confident a P33-billion revenue collection target would be achieved this year through the aggressive implementation of measures, especially on vehicle registration and driver’s license application and renewal.
“With the help of the hardworking men and women of the LTO, I am confident that we can reach the target we set in terms of revenue collection. This would be a big help to the programs of President Ferdinand Marcos Jr. on the services, particularly to our poor countrymen,” he said.
Editor’s Note: This is an updated article. Originally posted with the headline “LTO on track of reaching 2024 revenue collection goal.”
