Bureau of Customs Under Commissioner Faeldon Posts P1.3-Billion Collection Surplus in May 2017


Change is indeed coming particularly in one of the country's most corrupt agency, the Bureau of Customs as Customs Commissioner Nicanor Faeldon announced the good news that the agency posts a Php1.3-Billion collection surplus in May 2017.


According to the BOC Financial Service, the earnings last month exceeded by 3.4 percent the target revenue of P38.28 billion when the agency collected a total of P39.6 billion.

The BOC under Commissioner Faeldon also added that the May collection was 23.5 percent, or P7.52 billion more than the figures reported during the same period last year during the last few months of the Aquino administration.


One of the reasons why there is an improved collection performance was due to higher oil prices in 2017, and increase in volume and value imports by 19.7 percent and 28.3 percent respectively.

The higher foreign exchange rate is also an added factor as it increased from PHP47.05 in 2016 to PHP49.9 in 2017, thereby resulting in higher revenue yields.


Customs Commissioner Faeldon also cited last month's good revenue performance of the 11 district ports in the country which are listed below:

  • Port of San Fernando - collected PHP248 million, up by 26.8% from Php195.8 million target revenue
  • Port of Manila - collected collected PHP6.135 billion, up by 0.6 percent from the PHP6.101 billion target revenue.
  • Manila International Container Port collected PHP12.08 billion, up by 2.4 percent from the PHP11.80 billion target revenue.
  • NAIA - collected PHP3.35 billion, up by 3.2 percent from the PHP3.24 billion target revenue.
  • Port of Batangas - collected PHP9.05 billion, up by 5.5 percent from the PHP8.58 billion target.
  • Port of Tacloban - collected PHP22.8 million, up by 22.5 percent from the PHP18.6 million target.
  • Port of Cagayan de Oro - collected Php1.46 billion, up by 52.9 percent from the PHP953.2 million target.
  • The Port of Zamboanga - collected PHP22.3 million, up by 14.7 percent from the PHP19.4 million target.
  • Port of Davao - collected PHP1.572 billion, up by 37.4 percent from the PHP1.143 billion target.
  • Port of Subic - collected PHP1.370 billion, up by 2.7 percent from the PHP1.334 billion target.
  • Port of Clark - collected PHP128.8 million, up by 16.5 percent from the PHP110.6 million target.

BOC also reported that the ports of Cebu and Limay, which posted P1.83 billion and P2.28 billion, respectively are also expected to meet their collection targets. Commissioner Faeldon is also confident that the growth in government revenue will continue up to the end of the year.

Source: Philippine News Agency (PNA)


Bureau of Customs Under Commissioner Faeldon Posts P1.3-Billion Collection Surplus in May 2017 Bureau of Customs Under Commissioner Faeldon Posts P1.3-Billion Collection Surplus in May 2017 Reviewed by Phil Newsome on 6/15/2017 Rating: 5

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