The Bureau of Customs Port of Cebu generated over P700,000 from the public auction of forfeited goods last September 21, 2020. (BOC Port of Cebu)
CEBU CITY, Philippines — The Bureau of Customs Port of Cebu generated over P700,000 from the public auction of various forfeited articles last Monday, September 21, 2020.
The BOC-Cebu said a total of P733,000 was generated from the sale of the forfeited goods, adding to the revenues generated by the government.
BOC said this is already the third public auction that it organized since the start of the year.
Read: BOC Port of Cebu once again exceeds target collection for August 2020
“A total of thirty-four (34) overstaying cargoes were already disposed of, generating additional revenue amounting to Php 5,069,800.00,” BOC said in a statement this Wednesday, September 23, 2020.
“The public auction sale is consistent with the directive of BOC Commissioner Rey Leonardo B. Guerrero to speedily dispose forfeited goods in order to maximize the generation of additional revenues for the government,” it added.
/bmjo