The Philippine Ports Authority (PPA) announced on Thursday that it exceeded its revenue target for 2024, reaching P27.30 billion, a 7.29% increase from 2023. The PPA attributed this success to efficient revenue collection, new business opportunities, and the implementation of strategic policy changes. The agency also highlighted the impact of infrastructure development projects, such as the concession awarded to ICTSI for the Iloilo Commercial Port Complex.
State-run Philippine Ports Authority said Thursday it posted total revenues of P27.30 billion in 2024, surpassing its target of P26.09 billion for the year.- Advertisement -
The PPA said the efficient capture of revenue streams is a result of efficiency in revenue collection and management of potential income sources due to the development of new business opportunities along with the external trade in goods last year. Santiago also attributed the fiscal performance to the PPA management’s strategic policy changes and the successful implementation of the Port Terminal Management Regulatory Framework .
The Pasig Port was transferred to Mega Lifters Cargo Handling Corp. under a 15-year port terminal management agreement.Data revealed a 16.53-percent increase in wharfage dues compared to 2023, a 55.07-percent increase in domestic wharfage volumes, while import and export wharfage climbed by 6.21 percent and 17.37 percent, respectively.
REVENUE PHILIPPINE PORTS AUTHORITY ECONOMIC REFORM PORT INFRASTRUCTURE PHILIPPINE ECONOMY
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