Home » Ports/Terminals » PPA allots lower budget for 2004

THE Philippine Ports Authority (PPA) is cutting its budget by 13% for 2004 – from P9 billion to P7.8 billion.

The agency expects to source P5.288 billion from private and governments ports, P211.87 million from fund management income, and the rest from outside loans. A fund surplus of P547 million is being allocated next year.

The agency is also targeting a 98% collection ratio efficiency and improvement in its cash flow. From P8.48 billion, capital expenditure will likewise be cut down to P7.03 billion next year. A profit of P1.66 billion in 2004, higher than the P1.215 billion initial target for the year, is eyed.

The agency said it will continue to implement strict cost-cutting measures and prudent cash management to maximize available funds for use in port infrastructure development.

Among the port agency’s major projects for 2004 include the North Harbor development project, the Port of Batangas and the Road Roll on/Roll off Terminal Systems, and provision of more linkages in the Mindoro Marinduque and Palawan area.

ATI requires delivery order for general cargoes PORT and terminal operator Asian Terminals, Inc. (ATI) will require all vessel agents and forwarders to issue a delivery order for general cargoes to their clients starting December 9, 2003.

The new policy aims to infuse transparency in transactions between consignees or importers and shipping lines.

The delivery order “signifies clearance of each consignee from any liabilities from the shipping line offices prior releasing of cargo,” the company explained.

The shipping line will be asked to send its authorized representative to issue a duly endorsed delivery order to the consignee or its representative. A copy should be forwarded to ATI posting and/or the delivery checker before the release and delivery of goods.

ATI said compliance with the new rule will ensure cargo safety for all port stakeholders.

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