State-run Philippine Ports Authority (PPA) reported a revenue growth of 25 percent last year at P25.4 billion versus P20.4 billion in the previous year, driven by its high collection efficiency ratio (CER).
In a statement, PPA said it continues to achieve outstanding performance supported by its fiscal management, as reflected in its CER which mirrors the robust revenue collection by its Port Management Offices.
From the record revenue posted in 2023, only 0.37 percent were accounts receivable from port dues of vessels, cargo charges, rentals and other miscellaneous fees.
The overall CER for 2023 stood at 99 percent, PPA said, attributing this to the stringent enforcement of the cash and carry system in which payment in cash, manager’s/cashier’s check or PPA pre-approved company check is made by the parties primarily liable — such as shipping lines, shippers or consignees — prior to withdrawal of cargoes from the port or loading of cargoes unto the vessel for charges against cargoes or before departure of the vessel for charges against the vessel.
The agency also ensured strict compliance from port customers with their contractual obligations and other rules and regulations set forth by the PPA.
As a government-owned and -controlled corporation, PPA’s mandate is to supervise, control, regulate, construct, maintain, operate and provide facilities and services necessary in the ports nationwide under its jurisdiction.
In a related development, the Maritime Industry Authority (Marina) lauded the approval and adoption of the 10-year Maritime Industry Development Plan 2028 (MIDP) by President Ferdinand Marcos Jr.
This underscores the commitment of the Philippine government to harness the full potential of its maritime industry for national development.
Marina said it recognizes the crucial role of the MIDP in charting the course towards a robust and sustainable maritime sector.
The plan’s focus on enhancing the Philippine Merchant Fleet, expanding domestic and overseas shipping industries, and promoting a skilled maritime workforce aligns perfectly with its goals of economic growth and global competitiveness, Marina said.
It noted the support of Department of Transportation (DOTr) Secretary Jaime Bautista in the development and updating of the MIDP.
The collaboration between Marina, DOTr along with its partner agencies have been instrumental in shaping the strategic direction of the Philippine maritime industry, it added.
