Port of Cebu reports P3.33B 2020 collection surplus

By: Doris C. Bongcac - Editor/CDN Digital | January 02,2021 - 11:09 AM

MANDAUE CITY, Cebu — Despite the pandemic, the Bureau of Customs Port of Cebu still managed to earn a revenue surplus of P3.33 billion in 2020.

In a report that was posted on BOC Port of Cebu’s official Facebook page, Lawyer Charlito Martin Mendoza was quoted as saying that the Port of Cebu earned a total of P30.87 billion which is 12.10 percent more than the year’s target of P27.53 billion.

The P3.33 billion surplus is the “biggest surplus ever recorded by the Port.”

Mendoza gave credit to the “collective effort to not only exceed the revenue target, but also streamline processes and make headways in the Port’s governance reforms.”

The Subports of Mactan and Dumaguete made major contributions to the revenue surplus, he said.

The Subport of Mactan that is under the leadership of Collector Gerardo A. Campo recorded a surplus of P73.856 million from its P861.350 million collection target.

On the other hand, the Subport of Dumaguete that is headed by Collector Fe Lluelyn G. Toring posted P801.508 million in revenue surplus from its collection target of P4.36 billion.

“The Port consistently posted positive revenue collection performance for 10 consecutive months since March 2020. For December, the Port collected P2.993 billion, exceeding its assigned monthly collection target by P439 million and posting the highest monthly collection,” the report said.

“We see this increase in collections as a sign of the resiliency of industries in the Central Visayas, and we hope this increasing trend is a sign of a recovering economy that would continue to 2021″, said District Collector Mendoza, who recognized the Port’s importers who made tremendous contributions to its revenue collection efforts, and were cooperative with the Bureau’s governance reforms. The big chunk of the Port’s revenue collection comes from importations of mogas, gasoil, iron and steel, coal, foodstuff, and electrical and telecommunications equipment,” Mendoza added.

The Port of Cebu is one of the major ports in the country, contributing around five percent of the total revenue collection of the Bureau of Customs (BOC)./dbs

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TAGS: 2020, BOC, P3.33B revenue surplus, Port of Cebu

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