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Friday, March 29, 2024

Subic Port earns P26.9B, passes 2019 revenue goal

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The Port of Subic on Saturday announced it has already surpassed its P24.7-billion revenue goal for 2019 as it collected P26.9 billion as of October 25.

Port officials said it was an historic collection performance, with the P2.2-billion surplus recorded for the first time in 26 years.

The port’s total collection from January 1 to October 25, 2019 also exceeded by more than P5 billion or 22.8 percent the P21.9 billion total collection it accomplished in 2018.

“As early as September, we already exceeded our target by P731 million. What we are collecting now is the excess,” said Port of Subic district collector Maritess Martin.

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She added: “Even if we already met our full year target, we still have to meet the monthly target assigned to us. For now we are only short by 200 million. im really positive we can hit it by next week because of our forecast.”

Martin attributed the port’s latest accomplishment to the bulk of imported goods, mostly oil shipments, and the major importers that resulted in a surplus revenue collection.

According to Martin, the positive performance of the port in ensuring that proper and correct duties and taxes are assessed and collected from import shipments is essential in meeting the collection target.

She also attributed the continuous improvement in Subic’s revenue collection to the implementation of tax reform law that imposed fuel excise tax hike and the higher exchange rate. 

Subic has been heavily relying on the entry of oil imports for its monthly revenue collections.

Last Oct. 9, Martin spearheaded the awarding of Top 20 Revenue Contributors for the third quarter of the year in Subic.

Among the awardees were PTT Philippines Corp., Insular Oil Corp., Marubeni Philippines. Corp., Micro Dragon Petroleum Inc., Warbucks Industries Corp., Cebu Air Inc., High Glory Subic International Logistics Inc., Ecossential Foods Corp., Golden Share Commerce and Phoenix Petroleum Phils. Inc.

“The endless hours and dedication of stakeholders in helping the port are appreciated. Focusing on the delivery of fast and efficient service and the importance of information sharing with stakeholders and the general public is the main concern of the this recognition,” said Martin.

Following her appointment as district collector of Subic in January 8, 2019, Martin with the help of other key officials introduced the 5S Method (Sort, Set in Order, Shine, Standardize and Sustain) in line with the port’s campaign for a more conducive working environment and bolster efficient services to the public.

The Port of Subic, according to Martin, also remains committed in its drive to collect revenues and vigilant in its efforts to prevent smuggling and the commission of fraudulent and illegal acts.

Customs agents in Subic recently seized P60 million worth of smuggled sugar and firecrackers from Thailand, and a shipment of pork products from Hong Kong.

“What else can best highlight the Port of Subic’s performance but the remarkable, highest-ever, and record-breaking revenue collection for this year due to the strict implementation of Customs laws, rules and regulations and the collaborative effort of the port’s personnel,” said Martin.

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