SUBIC BAY FREEPORT— The Bureau of Customs (BOC) Port of Subic agency here ended the 2019 business activities with a P9.799 billion surplus after generating P32.370 billion revenues for the year.
Compared to the agency’s 2018 collections output of P22.571 billion, the port recorded a 43.41 per cent hike and was hailed by local port watchers as the highest and record breaking accomplishment of the 25 year old government outfit.
Port of Subic district collector Maritess Martin attributed the fete to the increase patronage of independent oil and other petroleum importers using the Subic port facilities as its choice of import destination.
Moreover, the continuous undisturbed port administration of Martin provided stakeholders secured and defendable rapport in doing business in Subic unlike the previous years where most district collectors do not stay at their post for more than four months.
But the outlook for 2020 indicates a not rosy picture due to seeming global economic scenario that may dampen the fuel importations of traditional petroleum importers here.
Martin in an interview lamented that the Port may see revenue declines due to petroleum high prices and the monthly revenue hikes to the district by Aduana increasing its target by an additional P1 billion more or a cumulative P3 billion revenues per month.
Since the main source of revenues of Subic is petroleum and used motor vehicles, Martin said Team Subic will be hard pressed to attract more port users and bulk cargo products to make Subic its port of destination.
However, some big tax contributors last year like PTT Philippines, the wholly owned subsidiary of PTT Thailand has announced its plan to reduce their fuel imports by 50 per cent as it will shift the other imports to Batangas port in line with its gasoline station business expansion to Southern Luzon this year.
PTT loss its major distribution business at Clark Freeport, which was its former major client after the stoppage of the Subic-Clark fuel pipeline two years ago, report said.
The Subic-Clark pipeline which established by the US military to supply the petroleum needs of the US Air Force at Clark Field ceased operations after local government units along the route due to mounting complaints of residents along the route covering Bataan and Pampanga provinces.
As a result of the pipeline closure, petroleum products have to transport by tankers from the Coastal Petroleum depot at Subic to Clark which added additional expense.
Petroleum needs of Clark locators and users, report said are supplied now by Petron which has several truck fleets.
