04 DECEMBER 2023, MANILA — The Philippine Ports Authority (PPA) is ending 2023 with a bang as major reforms paired with good fiscal management and governance continue to churn out record breaking numbers for the second straight year.
For one, the revenue booked by PPA from January to October this year jumped by 30.2 percent hitting an all-time high of P21.06 billion, already breaking the previous record high of 20.53 billion recorded last year.
After contracting by 9.3 percent to P16.64 billion in 2020 from P18.35 billion in 2019 as global trade ground to a halt due to COVID-19 restrictions, the revenue of PPA picked up to P17.67 billion in 2021 and P20.53 billion in 2022 as the global economy gained traction.
PPA General Manager Jay Santiago said the agency continues to maximize all revenue fronts in order to collect the correct amount and reap the benefits of several measures implemented to be more efficient and effective.
“Makikita niyo naman po puro pataas ang figures, we at the PPA have been consistent in increasing our revenue as we continue to shift gears during this rebound of the economy from the effects of the pandemic. These increasing figures are actually the fruits of the past years policy changes, planning, and strategic management,” Santiago said.
Santiago has been championing major reforms as well as good fiscal management and governance since he was appointed in 2016. He is now serving his second term following his reappointment by President Ferdinand “Bongbong” Marcos Jr. in October of 2022.
From January to October this year, a notable increase in revenues and profit has been generated by PPA with a total revenue of Php 21.06B or 30.19% growth over the same 10-month period during the previous year due to higher volumes of cargo and vessel income.For the month of October 2023, the actual revenue is Php 2.25B or 3.19% over the target of Php 2.18B and higher than the revenue last year of the same month by 71.55%. Service and Business Income accounted for 41.33% or Php 8.70B of total revenues while Regulatory Income is at 40.86% or Php 8.60B while recorded Interest and Gains was at 17.91% or 3.75B. Net Income amounted to Php 9.76B which is 15.41% or Php 1.30B higher compared to the net income for the same period in 2022.
PPA RAMPS UP INFRA PROJECTS
The agency continues to ramp up major infrastructure projects to further expand and improve port operations nationwide. PPA is implementing a total of 74 locally funded projects as of October this year with 36 ongoing projects in Luzon, 19 in Visayas, and 19 in Mindanao.
These include the P902.09 million upgrading of the general cargo berth by the Port Management Office of Davao in Sasa, Davao City; the P886.7-million port expansion and restoration project of the PMO Northern Luzon in Currimao, Ilocos Norte; the P818.59 million Capinpin port expansion project by the PMO Bataan/Aurora in Orion, Bataan; and the construction of wharf and port operational area with continuous Roro ramp by PMO Bohol in Catagbacan worth P693.56 million.
Other projects are the P663.6 million project to construct a cruise ship port in Surigao del Norte by PMO Surigao; the construction of wharf with breakwater piles worth P635.03 million in Claveria, Cagayan by PMO Northern Luzon; the P37.74-million port expansion and improvement in Plaridel, Misamis Occidental by PMO Ozamiz; the P627.6-million Balogo port development project in Camarines Sur by PMO Bicol; and the construction of a cruise ship port in Surigao del Norte.
PPA is implementing a total of 74 locally funded projects as of October 2023 with 36 ongoing projects in Luzon, 19 in Visayas, and 19 in Mindanao. This resulted in a 46.4 percent jump in total expenses to P7.71 billion from January to October this year versus last year’s P3.58 billion.
MORE PASSENGERS, CARGOES SERVED
As part of operational improvements, the PPA was able to service more passengers and cargoes in the first 10 months of 2023. Santiago reported a 19 percent increase in total passengers to 9.19 million, including 46,657 cruise passengers with the revival of global and domestic tourism, trade and regular travel activities, as well as the continued #PPAsyalTayo travel campaign of PPA.
“Bumabalik na rin po kasi tayo sa pre-pandemic level dahil mas maluwag na ang restriksyon ngayon sa mga pantalan, habang pinpaganda natin ang mga pantalan, tuluy-tuloy rin po ang ating promotion sa mga lokal na destinasyon na maaring puntahan sa pamamagitan ng mga ports natin kaya nga po meron tayong #PPAsyalTayo campaign nitong taon dahil itinanghal rin ang Pilipinas bilang “Best Cruise destination in Asia,” he said.
During the period, total ship calls went up by 11.6 percent to 437,250, driven by the improvement in the number of domestic vessels as well as additional routes and vessel trips that offset the 1.7 percent decline in calls by foreign vessels. Likewise, PPA reported a 4.5 percent increase in cargo volume handled to 227.2 million metric tons from a year-ago level of 227.1 million amid the increase in both domestic and foreign cargo.
Santiago vowed to maintain the strong momentum to 2024 by pursuing reforms and completing quality projects.
"Marami pa pong dapat abangan sa PPA especially next year sa 2024, kapag nagbukas na po ang mga cruise terminals natin, kaya abangan lang po natin marami pang ipagmamalaki ang PPA sa pagpasok ng bagong taon", GM Santiago concluded.
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