PPA books P20.4B revenues in 2022, highest since 1974
The Philippine Ports Authority (PPA) on Tuesday said it has seen its highest revenue collection since its inception as it generated P20.4 billion in 2022.
"It has been business as usual since we got back, we continue to veer away from the grip of the pandemic by contributing to the economy and increasing our revenues by 16%, more than the P17.5 billion in 2021 and P16.6 billion in 2020. We believe this is a good sign and a great shift in gears during this rebound of the economy" said PPA general manager Jay Santiago.
"In the past 10 years, the next highest total revenue of PPA was recorded during the pre-pandemic year 2019 amounting to P18.3 billion which is 5% higher than the income reached in 2018,” added Santiago.
In 2022, the PPA said 69 projects were completed including the following:
- Tablas (Poctoy) Port Expansion Project in Port of Tablas (Poctoy), Odiongan, Romblon
- Balanacan Port Expansion project located in Port of Balanacan, Marinduque
- Construction of Back-Up Area and Port Operations Building of Coron Port, Palawan which is set to be inaugurated this incoming March 2023
- Matnog Port Expansion Project from Port of Matnog, Sorsogon
- Back-Up Area Construction of Dumangas Port in Dumangas, Iloilo
- Back-Up Area Construction of Port of Getafe, Bohol
- Construction of Port Operations Building and RoRo Ramp in Maasin Port (Southern Leyte)
- Development Project of Dapitan Port located in Port of Dapitan, Dapitan City, Zamboanga del Norte
- Upgrading and Expansion of Lawigan Port in Bislig, Surigao del Sur
- Construction of the Continuous RoRo Ramp in Port of Cagayan de Oro, Cagayan de Oro City
- Expansion of Back-Up Area with RoRo ramp that has been conducted in the Port of Lipata, Surigao City, Surigao del Norte
The PPA also reported a 7.15% increase in the number of containers handled at ports nationwide, with domestic cargo growing by 5.01% while foreign containers up by 8.51%.
Likewise, the Ports agency said sea-going passenger travel saw an increase of 155.99% or 35, 997, 226 passengers on the back of the resumption of domestic tourism, trade, and regular travel activities.
“Consistent with our track record of continuously increasing our performance, PPA sets a target in 2023 to generate P21.6 billion to help us achieve more” said Santiago. —VAL, GMA Integrated News