The Bureau of Customs (BOC) Port of Cagayan de Oro has inaugurated a security warehouse and auction house located at Brgy. Tablon, Cagayan de Oro.
A first of its kind in the country, BOC said the facility inaugurated on August 31 will house and secure seized items from ports under the jurisdiction of the collection district of Cagayan De Oro, including Cagayan De Oro port and the subports of Ozamiz, Iligan, and Mindanao Container Terminal (MCT) in Tagoloan, Misamis Oriental.
The facility aims to centralize inventory of seized goods such as minerals, cigarettes, clothing products, cars and other goods subject for condemnation or auction.
BOC said the establishment of a security warehouse and auction house will improve its collection of revenues from seized goods and will also help ease the process of BOC auction.
Moreover, BOC for the first time will hold an online auction this month to promote faceless transactions among interested bidders.
BOC-Cagayan De Oro district collector John Simon noted the importance of transparency through auctions.
Amidst the pandemic, BOC said it is “continuously adopting measures to improve collection of lawful revenues as it gears to be a stronger revenue-generating agency to fund government projects and programs in this time of crisis.”
