Subic port surpasses July revenue target

SUBIC BAY FREEPORT, Philippines — Despite restrictions brought by the pandemic, the Bureau of Customs (BOC) at the port of Subic says it surpassed its target for July by 1.18 percent.

The bureau collected P2.26 billion despite difficulties suffered by the investors from the effects of community quarantine, according to Subic port collector Maritess Martin.

The lockdown and temporary closure of most manufacturing firms in Subic were expected to affect the collection of duties and taxes imposed on imported goods.

The amount of collection gave the BOC a surplus revenue of P26.45 million or 1.18 percent over the adjusted monthly target of P2.24 billion, Martin said.

Despite the pandemic, the BOC expects the port to surpass its 2020 target of P24.4 billion by yearend, Martin said, noting the current total collection is estimated at P15.28 billion.

Records show the port of Subic has been performing well since April.

In May, the port collected P1.74 billion, which is 12 percent higher than the targeted collection of P1.56.

In June, it collected P2.76 billion, higher by 45 percent than its P1.91 billion target.