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The Philippine Ports Authority posted an 83% budget utilization rate in 2022
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The rate has seen an average increase of 12% yearly since 2016, when PPA general manager Jay Daniel Santiago first took over the agency
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For locally funded projects, PPA achieved a 97% budget utilization rate in 2022 allocated to 62 projects
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PPA generated revenues of P20.4 billion last year, the agency’s highest annual collection so far and 16% more than the P17.5 billion recorded in 2021
The Philippine Ports Authority (PPA) posted an 83% budget utilization rate (BUR) in 2022, the highest in recent years and despite challenges brought by the COVID-19 pandemic, the agency said in a statement.
The 2022 BUR compares with the 71% recorded in 2021 and 62% in 2020, which means “PPA “was able to maximize and implement responsible usage of its corporate budget”, the agency added.
The BUR has seen an average increase of 12% yearly since 2016, when PPA general manager Jay Daniel Santiago first took over the agency. In 2015, the BUR was at 52%.
For 2023, Santiago said the agency seeks to achieve a BUR of 90%.
In terms of locally-funded projects, PPA recorded a 97% budget utilization rate — P4.274 billion of the P4.422 billion earmarked — in 2022 allocated to 62 projects. These projects included construction of port operational areas, construction of passenger terminal buildings (PTB), installation of LED lights, dredging of entrance channels, and renovation of port buildings.
Thirty new port projects, meanwhile, are set to be completed during the first year of President Ferdinand Marcos, Jr., including 17 in Luzon, four in Visayas, and nine in Mindanao. Of the total, six were already completed earlier this year, 13 projects are ongoing, and more infrastructure projects are set to be rolled out this year.
Among these projects are the construction of PTBs, port operations building, transit shed and port operations area, extension of reinforced concrete pier, construction of back-up areas and roll-on/roll-off ramps, and rehabilitation of damaged wharf.
PPA in 2022 generated revenues of P20.4 billion, the agency’s highest annual collection so far and 16% more than the P17.5 billion recorded in 2021.
For 2023, Santiago earlier said PPA has set a target of P21.6 billion of revenue.
PPA is looking at a 7-8% growth for cargo traffic this year.
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