Maritime gateways regulator Philippine Ports Authority or PPA has posted revenues of P20 billion, a historic high, in 2022, attributed to the authority’s safe fiscal management and the easing of Covid-19 restrictions.
PPA reported earnings last year of P20.4 billion, its highest collection since 1974.
“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 percent, 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,” Daniel Santiago, PPA general manager, said.
He said there were 69 port projects completed in 2002, namely Tablas (Poctoy) Port Expansion Project in Odiongan, Romblon; Balanacan Port Expansion project in Port of Balanacan, Marinduque; construction of back-up area and port operations building of Coron Port, Palawan; Matnog port expansion project; back-up area construction of Dumangas port, 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; 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; and lastly the expansion of Back -Up Area with RoRo ramp that has been conducted in the port of Lipata, Surigao City, Surigao del Norte.
Expenses efficiently managed
The PPA chief maintained that PPA’s improved finances are proof of its efficient management of expenses and streamlined delivery of services to port users and stakeholders.