The Philippine Ports Authority (PPA) remitted over P17 billion in dividends to the National Government (NG) from 2016 to 2020, more than double the total dividends it remitted in the half decade before the present administration.
As of the end of last year, the agency’s P17.17 billion total remittance was 108 percent more than the full-term remittances of the previous administration totaling P8.270 billion from 2010 – 2015, PPA General Manager Jay Daniel R. Santiago reported.
“We are happy to announce that the PPA has surpassed the total dividends it posted during the previous administration in a span of only 5 years, from 2016 to 2020,” he reiterated.
PPA’s strong financial foundation is anchored on the public service and anti-corruption efforts of the agency, according to Santiago. “Transparent and honest public service goes a long way.”
With still more than a year left under the Duterte Administration, the PPA hopes to post another banner year this 2021, as the country starts to recover from the adverse impact of the COVID-19 pandemic.
“If the first quarter of 2021 is any indication, the PPA is in for another good year, in spite of the pandemic, after posting a 3% hike in net income in the first 3 months of 2021 suggesting that economic activities are now rebounding from the effects of the pandemic,” the PPA General Manager added.
“This will go a long way in helping the National Government in the country’s continuing fight against the global pandemic,” noted Department of Transportation (DOTR) Secretart Arthur Tugade.
“With the limited time left for us to do what needs to be done, I urge the entire PPA, together with the other agencies under the DOTr, to focus all our efforts to achieve this goal.”
Earlier, the PPA earlier reported paying P14.87 billion in income tax to the Bureau of Internal Revenue (BIR) since 2016.
Its biggest tax paid was in 2018, totaling P5.90 billion.