BUSINESS
Advocates Philippines
PPA Records Highest Revenue since 1974
Photo credit: PPA
The Philippine Ports Authority (PPA) has reported an all-time high revenue of Php 20.4B in 2022, which is the highest collected since the agency's inception 48 years ago. The PPA's General Manager, Jay Santiago, credited this success to the authority's sound fiscal management and the lifting of Covid-19 restrictions leading to a positive rebound of the economy.
In 2022, the PPA completed 69 projects, including port expansions, constructions, and upgrades, that contributed to the increase in revenue. Santiago said these increasing figures are proof of PPA's efficient management of expenses and streamlined delivery of services to port users and stakeholders.
PPA's 2022 reports highlighted a 7.15% (527, 131 TEUs) increase in the volume of containers handled at ports nationwide, resulting in a 5.01% (143, 880 TEUs) improvement in the volume of domestic cargoes. Foreign containers also had an 8.51% (383, 251 TEUs) increase for the year.
Sea-going passenger travel in 2022 was set to normalize its performance, recording an increase of 155.99% or 35, 997, 226 passengers, attributed to the resumption of domestic tourism, trade, and regular travel activities. Additionally, shipcalls had an increase of 25.31% (95, 993 shipcalls), with domestic shipcalls attaining 26.22% or 96, 352 shipcalls, while foreign shipcalls had a decline at 3.05% or only 359 shipcalls.
Santiago said that with the agency's track record of continuously increasing performance, PPA sets a target to generate Php 21.6B in 2023 to achieve more.
In 2022, the PPA completed 69 projects, including port expansions, constructions, and upgrades, that contributed to the increase in revenue. Santiago said these increasing figures are proof of PPA's efficient management of expenses and streamlined delivery of services to port users and stakeholders.
PPA's 2022 reports highlighted a 7.15% (527, 131 TEUs) increase in the volume of containers handled at ports nationwide, resulting in a 5.01% (143, 880 TEUs) improvement in the volume of domestic cargoes. Foreign containers also had an 8.51% (383, 251 TEUs) increase for the year.
Sea-going passenger travel in 2022 was set to normalize its performance, recording an increase of 155.99% or 35, 997, 226 passengers, attributed to the resumption of domestic tourism, trade, and regular travel activities. Additionally, shipcalls had an increase of 25.31% (95, 993 shipcalls), with domestic shipcalls attaining 26.22% or 96, 352 shipcalls, while foreign shipcalls had a decline at 3.05% or only 359 shipcalls.
Santiago said that with the agency's track record of continuously increasing performance, PPA sets a target to generate Php 21.6B in 2023 to achieve more.
Mar 1, 2023
