by
MAYVELIN U. CARABALLO AND WILLLIAM B. DEPASUPIL, October
29, 2015 8:32 pm
Customs revenues fell
below target in September, the government reported on Thursday, as lower oil
prices offset an increase in overall import volumes.
The Bureau of Customs
said it netted P36.25 billion last month, short of the P4.85-billion goal and
down 0.8 percent from a year earlier.
In a statement, the
bureau noted that import values fell by 5.4 percent even as volumes surged by
20.5 percent. In particular, it noted that revenues from oil imports fell by 33
percent to P6 billion while non-oil earnings rose 11.3 percent to P2.7 billion.
Year to date the
bureau is also behind its collection goal. Cumulative revenues grew by 0.9
percent to P268.229 billion but were short of the P314.171-billion target for
the period.
September’s decline
was the second for Customs Commissioner Alberto Lina, who assumed the post in
April. He remained confident, however, that the full-year target would be met.
“Preliminary figures
for October are looking up so we will strengthen efforts to meet targets by the
end of the year,” Lina said.
The BOC has been
assigned a P436.5-billion target for the year. Last year, it failed to meet its
P408-billion goal, only netting P369 billion.
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