12 FEBRUARY 2024, MANILA — The Philippine Ports Authority (PPA) continues to achieve outstanding performance supported by its excellent fiscal management, reflected in its Collection Efficiency Ratio (CER), which mirrors the agency's robust revenue collection by its Port Management Offices (PMOs).
Based on the unaudited financial statement for calendar year 2023, PPA earned a total of P25.4 billion, demonstrating a remarkable performance by breaking the recorded P20.4 billion revenue in 2022. From the aforementioned record-breaking revenue recorded in CY 2023, only 0.37% were accounts receivable from port dues of vessels, cargo charges, rentals, and other miscellaneous fees.
The overall collection efficiency ratio for CY 2023 stood at an impressive 99.12%, a testament to PPA's efficacy in collecting government revenues. This success is attributed to the stringent enforcement of the Cash and Carry System in which payment in cash, manager’s/cashier’s check or PPA pre-approved company check is made by the parties primarily liable – such as shipping lines, shippers, or consignees – prior to withdrawal of cargoes from the port or loading of cargoes unto the vessel for charges against cargoes or before departure of the vessel for charges against the vessel.
The agency also ensures strict compliance from port customers with their contractual obligations and other rules and regulations set forth by the PPA.
As a Government-Owned and Controlled Corporation (GOCC), it is within PPA's mandate to supervise, control, regulate, construct, maintain, operate, and provide facilities and services necessary in the ports nationwide under its jurisdiction. Based on the Governance Commission for GOCCs (GCG) Memorandum Circular No. 2014-10, there are 25 PPA Port Management Offices (PMOs) across the country.
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