BOC Subic hits P32.370B revenues in 2019

Subic Bay Freeport – The Bureau of Custom (BOC) Port of Subic agency here ended the 2019 business activities with P9.799 billion surplus after generating 32.370B revenues for the year.

Compared to the agency’s 2018 collection of 22.571 billion, the port recorded a 43.41 percent increased and was hailed by local port watchers as the highest and record breaking accomplishment of the 25 year old government outfit.

Port of Subic district Collector Maritess Martin attributed the fete to the increase patronage of independent oil and other petroleum importers using the Subic port facilities as its choice of import destination.

But the outlook for 2020 indicates a rosy picture due to global economic scenario that may dampen the fuel importations of traditional petroleum importers here.

Martin In an interview lamented that the port may see revenue declines due to petroleum high price and the monthly revenue hikes to the district by Aduana increasing its target by an additional 1 billion more or a cumulative P3 billion revenues per month.

Since the main source of revenues of Subic is petroleum and used motor vehicles, Martin said Team Subic will be hard pressed to attract more port users and bulk cargo products to make Subic its port destination. (Dante M. Salvana)