Bureau of Customs (BOC) revenue collections for August increased 11.4% to P29.06 billion from P26.09 billion in the same period last year, but fell short of the P33.5-billion target.
BOC noted that the growth came despite the traditional slackening in business activity during the “ghost month” of August, particularly in many Asian economies, and despite congestion at Manila ports.
Actual cash collections continued to post double-digit growth, ballooning 13.4% in August.
From January to August 2014, the second largest revenue-generating agency also saw a 17.4% hike in its cash collections, expanding to P232.92 billion, up from the P199.17 billion recorded in the same period last year.
Revenue collections of the Port of Batangas grew 42% year-on-year last August, “as more importers opted to divert their shipments there to avoid congestion in the Manila ports.”
Batangas port also breached its P6.1-billion target for the month by 18%.
Manila International Container Port still contributed the lion’s share to the total revenue with P8 billion, but failed to meet the P9.5-billion target. Port of Manila, on the other hand, posted P4.5 billion in revenue, lower than the P7-billion target.
Other ports that showed significant gains on their monthly targets were Iloilo (P241.3 million in revenue), Subic (P945.2 million), Aparri (P30.4 million), and Davao (P725.1 million).
For September 2014, BOC is tasked to collect P34.56 billion by the inter-agency Development Budget Coordination Committee. – Roumina Pablo
