THE Land Transportation Office-National Capital Region on Wednesday said its revenue collection for the first half of 2024 rose by 2.7 percent compared to the same period in 2023, reaching P4.67 million.
Annabelle Quevedo, Financial Management Division chief, reported that the agency has exceeded the first half of the previous year’s revenue collection of P4,55 million.
She credited the increase to strong collections in January, February, April and May comprising 70.80 percent of the total revenues, or the equivalent amount of P3.22 billion.
The bulk of the collections came from registration and licensing with revenues amounting to P4.14 billion and P475 million, respectively.
The Law Enforcement and Traffic Adjudication System contributed P49,481,080.00, while the Motor Vehicle Inspection Center added P8.4 million.
Regional director Roque Verzosa III vowed to maintain revenue growth for the second half of the year.
“We appreciate and acknowledge the efforts of all LTO-NCR employees who have contributed to the growth of our revenue collection in the first half of the year. Rest assured, we will strive harder to maintain our revenue growth for the second half of 2024,” he said.
