Subic Bay Freeport - The continued oil shipments coming in the Port of Subic provided some saving grace in the sluggish collections of the Bureau of Customs (BOC) for its actual revenues amounting to P1.41 billion last month.
While the other billionaire ports floundered and failed, the Port of Subic performed beyond expectations, exceeding its February target of P1.35 billion by P60 million, an initial data culled from BOC showed.
“We have regular importations of oil and heavy equipments. The big percentage of our revenues come from the importation of these goods,” Subic port collector Carmelia “Mimel” Talusan, who consistently hit her targets since she assumed in November last year, told Manila Bulletin.
The top tax-paying oil firms in Subic include PTT Philippines Corp., Cebu Air, Inc., Phoenix Petroleum Philippines, Inc., and Total Philippines Corp., among others.
The same collection report indicated the Ninoy Aquino International Airport (NAIA) and the Port of Davao were the other biggest gainers in terms of revenue collection during the period.
NAIA collected P2.350 billion as against its target of P2.032 billion or an excess of P318 million while Davao registered a surplus of P129 million for its P1.134-billion collection, higher than its revenue goal of P1.005 billion.
These three ports, quite notably, are the survivors of revenue shortfalls in February. The others were smaller ports such as San Fernando, Legazpi, Iloilo, and Cagayan de Oro.
They outperformed the ports that are traditionally cash cows of the BOC, which have been severely affected by the Chinese New Year.
Revenue collections in BOC have been comparatively dismal in February due to the Chinese holiday as most businessmen and importers traditionally scale down their importations.
But for Talusan, the Chinese New Year has no effect to the oil importations in Subic Port.
“We are affected by the decrease of importations if it is December. In December, they are doing inventories already and they are checking all of their supplies,” she noted.
Unlike Subic, the sluggish volume in importations was evident in the Manila ports.
The Manila International Container Port and the Port of Manila, which are traditional big revenue earners, contributed a combined deficit of more than P2 billion last month.
The MICP posted the highest deficit, registering a shortfall of P1.360 billion for its P9.313-billion collections, short to meet its revenue target of P10.673 billion. (Raymund F. Antonio, Manila Bulletin)
Tankers docked at the Pol Pier of the Subic Bay Freeport Zone where the oil tank facility of the Philippine Coastal Storage & Pipeline Corporation is located.