BOC Iloilo exceeds March revenue target

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BOC Iloilo exceeds March revenue target
Newly appointed district collector Ciriaco Ugay meeting with officials of Visayas Container Terminal, new operator of the Port of Iloilo, on March 22, 2024. Photo from Bureau of Customs-Port of Iloilo.
  • The Bureau of Customs-Port of Iloilo exceeded its revenue target for the third consecutive month, collecting P418.87 million in March
  • The latest collection surpassed the P400-million goal by 4.72%, resulting in a surplus of P18.87 million
  • For the first quarter of the year, the Port of Iloilo took in a total of P1.21 billion, 3.68% more than the target of P1.17 billion

The Bureau of Customs (BOC)-Port of Iloilo exceeded its revenue target for the third consecutive month in March, collecting P418.87 million, BOC Iloilo said in a statement on April 1.

The latest figure is 4.72% higher or P18.87 million than the goal of P400 million.

From January to March 2024, the port garnered a total of P1.21 billion, surpassing the cumulative target of P1.17 billion by P42.97 million or 3.68%.

Newly appointed district collector Ciriaco Ugay lauded the port staff for the district’s latest performance and thanked stakeholders and partner government agencies for their support.

Meanwhile, Ugay and BOC Iloilo officials met with Timothee Jeannin, executive director of Visayas Container Terminal (VCT), and his team on March 22.

Discussions focused on boosting efficiency and collaboration in line with streamlining trade processes and enhancing border control in the Western Visayas region.

VCT, a subsidiary of International Container Terminal Services, Inc. (ICTSI), is the new operator of the Port of Iloilo. The Philippine Ports Authority in January this year granted a 25-year concession contract to VCT to develop and operate Iloilo Commercial Port Complex.

READ: ICTSI awarded 25-year contract for Iloilo port

The port will be operated exclusively to serve foreign vessels and cargoes, with a provision for domestic vessels and cargoes in the initial five years.

Located at the heart of Iloilo City, ICPC serves the province of Iloilo and the entire Panay Island, in Western Visayas of the Philippines.

ICTSI said it will focus on improving terminal productivity and service quality by investing in the development and rehabilitation of the terminal infrastructure and the deployment of cargo-handling equipment.