Philippine Ports Authority (PPA) has spent about P20 billion for the completion of 240 port projects in the last five years.
PPA said the completion of 240 port projects from 2016 to 2021 is part of the 585 port projects completed under the Build, Build, Build program of the current administration.
In a statement, Jay Daniel Santiago, PPA general manager, said the agency and the Department of Transportation are set to inaugurate at least 13 more port projects before the end of this administration on June 30.
These projects include the Currimao Port in Ilocos Norte, Banago Port in Negros Occidental, and the completion of the passenger terminal buildings in Batangas and Calapan, which will be considered as two of the biggest terminals in the country.
“The projects that were completed also prepared the country to take in the shipping and logistical demands both from local and international players in the short- to mid-term as the world transitions to the normal,” Santiago said.
PPA reported P43.98 billion total contributions to the government in the form of taxes paid and dividend remittances for the period 2016 to 2021. The amount is P12.93 billion or 41.64 percent higher than the total contribution paid during the previous administration.
“PPA is in good standing right now due to the institutional changes implemented by the current administration to fulfill the mandate of the agency to improve and build ports to properly connect the archipelago and spur economic growth among the islands,” Santiago said.
“Today, March 21, 2022, we will remit to the Department of Finance our dividend payment amounting to P4.08 billion representing 60 percent of PPA’s P6.79 billion net income for the year 2021. The amount is 8.5 percent higher than what we remitted last year,” Santiago added.
For the six-year period, PPA said it was able to remit a total of P21.43 billion in dividends, which is 159 percent higher than the total dividend remittance recorded during the previous administration of P8.3 billion.
From the total, the average annual dividends remitted to the government during this administration is P3.57 billion compared to the P1.37 billion average during the span of 2010 to 2015, it added.
In terms of taxes, PPA reported that during the current administration it was able to pay P22.55 billion, 70 percent higher than the figure posted during the previous administration.
For its net income for the period in review, PPA posted P34.90 billion, up 95.6 percent from the six-year net income in 2010 to 2015.
“The remaining days of this administration are now focused on further streamlining systems and procedures to achieve seamless interconnectivity not only of the ports but also its processes, resulting in efficiency across all aspects of PPA operations,” Santiago said.
