Subic Port posts P30 million worth of surplus
May 24, 2011
SUBIC BAY FREEPORT — The Port of Subic has registered P30 million worth of surplus in customs revenue as reflected in its actual cash collections versus its target for the first four-month period in 2011.
Figures from the Subic Bay Metropolitan Authority (SBMA) showed that Subic’s year-on-year cash collection performance in the four-month period reached P2 billion, surpassing last year’s record of P1.6 billion by 25.26 percent.
In April alone, the Bureau of Customs (BOC) here easily surpassed the target of P622 million after coming up with P623 million, the highest monthly cash revenue so far this year.
The Port of Subic, however, posted the highest monthly surplus on its actual cash collections in January when it exceeded its target by P25.61 million.
The surplus in March reached P21.92 million and P1.02 million in April, although actual collection versus target fell short by P18.54 million in February, the BOC said.
With this record, the Port of Subic emerged as one of the five ports in the entire country to surpass their target, joining Limay, which recorded a surplus of P456 million; Davao with P39 million; Zamboanga with P500,000; Legazpi with P100,000, and Clark with P10 000.
Overall, the BOC national office announced a shortfall of P3.3 billion, as it posted total cash collections at P21.88 billion, which is 13 percent short of its P25.19-billion target.
According to the Subic district office of the BOC, cash collections here are derived from duties and taxes paid for ship calls, transshipment operations, and the importation of various inputs, including oil, motor vehicles and other general merchandise.
The Subic-BOC also posted P102.21-million in non-cash collections derived from government-to-government transactions in January-April 2011. This was 97 percent lower than the P3.48-billion collection in the same period last year.
The Port of Subic utilizes the Enhanced Automated Cargo Transfer System (e-ACTS) for faster, safer, synchronized and secure cargo transit between Subic Bay and other ports in the country like the Ninoy Aquino International Airport, the Port of Manila, and the International Container Port Terminal.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/05/24/subic-port-posts-p30-million-worth-surplus-157116
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How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
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