Business
BOC distributes respective targets to 17 ports
By
Jan 9, 2009 - 10:44:04 AM

MANILA, Jan. 11 (PNA) - Although there is still a pending appeal before the Development Budget Coordinating Committee (DBCC) to reduce its target collection this year, the Bureau of Customs (BOC) has released the respective collection target for the 17 ports nationwide.

Based on the proposed distribution, the biggest portion of the P317.009-billion 2009 target was given to the Manila International Container Port (MICP) as they are ordered to collect P72.883 billion or 22.99 percent of the total annual target.

The Port of Manila (POM) was tasked to collect 20.83 percent of annual collection amounting to P66.047 billion.

The POM's collection target was reduced after the bureau created the Ports of Limay and Aparri, which were formerly under the POM.

The Port of Batangas, a major port of entry for oil imports will be collecting P57.997 billion for the year while the Port of Limay, another port of entry for Petron shipments, was given a P39.358-billion target.

Collection targets for tax expenditure funds (TEF) or non-cash payments from government importations have shot up from last year's P7.4 billion to P39.623 billion this year, owing to the boost in collections from the high volume of rice imports in 2008.

Another major port, the Ninoy Aquino International Airport (NAIA) has been given a P19.391-billion target for the year while the Ports of Cebu, Cagayan de Oro, Davao and Subic have been tasked to collect P5.929 billion, P4.607 billion, P2.188 billion and P4.997 billion, respectively.

The targets for the country's smaller ports are as follows: San Fernando - P1.993 billion; Legaspi - P62 million; Iloilo - P336 million; Tacloban - P410 million; Surigao - P24 million; Zamboanga - P42 million; Clark - P897 million and Aparri P224 million.

The 2009 target increased by 25 percent compared from the previous year which was at P254 billion.

The BOC is set to submit a letter before the DBCC to reduce its target, as it cited several issues that would affect their collection such as the global economic slowdown, the prices of oil products and peso-dollar exchange rate, among others. (PNA)