The Philippine Ports Authority (PPA) is aiming for a 90 percent budget utilization rate (BUR) this year through the implementation of major port projects in the country.
Last year, PPA said, it posted an 83 percent BUR, the highest in the previous years despite the challenges brought about by the coronavirus pandemic.
The agency added it was able to maximize and implement responsible usage of its corporate budget with a huge increase in BUR compared with 71 percent in 2021 and 62 percent in 2020.
“For 2023, we are aiming to surpass our 83 percent to 90 percent. We want to show the public that we are serious in getting the job done… in forms of services and infrastructure projects,” Jay Santiago, PPA general manager, said in a statement.
New seaport projects are set to be completed during the first year of the Marcos administration, including 17 projects in Luzon, four in Visayas and nine projects in Mindanao.
Six projects were completed earlier this year while 13 are ongoing and more infrastructure projects are set to roll out this 2023, PPA said.
Among these projects are the construction of passenger terminal building (PTB), port operations building, transit shed and port operations area, an extension of RC Pier, construction of back-up areas and roll-on roll-off ramps, and rehabilitation of damaged wharf.
Since 2016, PPA said, it recorded an increasing trend in capital expenditures along with the developmental programs and income generating projects that continued even during the height of the pandemic.
In terms of locally funded projects, the PPA last year recorded a total of 97 percent utilization rate that was allocated to 62 projects, including the construction of a port operational area and PTB, installation of LED lights, dredging of the entrance channel and renovation of port buildings, among others.
