Subic port collects P22B, breaching target before 2018 ends

Photo of Subic Bay Freeport by Randy Datu/Rappler

MANILA, Philippines – Breaching its target and achieving an all-time high, the Port of Subic said it has already collected P22 billion ($415.68 million) a week before the end of 2018.

The Subic port's annual target is P21.6 billion ($408.12 million).

District collector and lawyer Rhea Gregorio credited this to the "strict implementation of customs laws and rules and regulations."

This enabled Subic port "to recover its deficit in the past 3 quarters and finish strong toward the last quarter of the year," said Gregorio.

The leading tax-paying oil firms in Subic include Total Philippines Corporation, PTT Philippines Corporation, Cebu Air Incorporated, and Phoenix Petroleum Philippines Incorporated. – Rappler.com

*$1 = P52.92