BUSINESS Customs surpasses collection target

By Julito G. Rada

THE Bureau of Customs surpassed its revenue target of P124.738 billion in the first two months by collecting P133.380 billion on improved collection efficiency, a top official said Friday.

The agency said that in February, it also exceeded the P61.827-billion target by raising P63.015 billion from import duties. This was also higher than P59.433 billion registered in the same month last year.

“We will continue to innovate and implement sustainable reforms to boost the bureau’s collection efficiency, which will contribute to the expansion

In Brief

PAVI set to commission 20-MW solar project

PRIME Asset Ventures Inc. said Friday it will start the testing and commissioning of its 20-megawatt solar project in Orion, Bataan this month.

The Bataan solar project under PAVI Green

Renewable Energy Inc. forms part of PAVI’s commitment to construct 1,000 MW of renewable energy capacity by 2030.

PAVI Green is a fast-emerging renewable energy player and serves as the green arm of PAVI founded by Manuel Paolo Villar.

“The newly completed plant will be operational by March 2023 and will contribute greatly to the energy supply in some areas of Luzon, one of the country’s major industrialization and investment hubs,” said PAVI Green chief operating officer Robert Pereja.

The Bataan solar plant will generate enough energy to power up to 5,000 households once fully operational. Alena Mae S. Flores

DA, Nestle to roll out Robusta coffee project

THE Department of Agriculture and Nestlé Philippines Inc. teamed up to roll out the Mindanao Robusta Coffee Project to enhance the sustainability of Robusta coffee farming in the region by improving the farmers’ access to farm inputs, training and market opportunities.

Agriculture Senior Undersecretary Domingo Panganiban and Nestlé Philippines chairman and chief executive Kais Marzouki signed the memorandum of understanding for the project implementation on March 1, 2023.

“I thank everybody, most especially Nestlé, for embarking on a program that we all know is very important to Filipino farmers and the country. All of us will work together as one and I hope that this will be the start of a long activity that we shall be undertaking as far as the coffee industry is concerned,” Panganiban said. The project will primarily benefit Mindanao Robusta coffee farmers who are practicing monocropping and intercropping in coconut areas and other diversified farming systems suitable for coffee production.

“We are aligned with the DA in improving farmer productivity, profitability and sustainability. We also believe that it is time to go beyond sustainability. This is why we are channeling efforts to ramp up farmers’ understanding and adoption of regenerative agriculture practices like composting, intercropping, cover cropping and agroforestry. Doing these will enhance their livelihood and resilience to the effects of climate change,” Marzouki said.

Othel V. Campos

Demand for tablets seen gradually slowing down

THE tablet market in the Philippines is expected to gradually slow down this year, as most schools returned to in-person classes and businesses resumed operations under the new normal, according to International Data Corp.’s Worldwide Quarterly Personal Computing Device Tracker. IDC anticipates commercial tablet shipments to gradually return to pre-pandemic levels in 2023 as local government units and enterprises are no longer encouraged to donate tablets to schools.

Despite new vendors entering the market, IDC expects consumer tablets to contract under unfavorable market conditions that will prompt existing players to operate conservatively. Based on IDC’s latest report, tablet shipments to the Philippines grew 6.5 percent year-on-year to 1.24 million units in 2022 from 1.17 million units 2021.

“Both Samsung and Cherry Mobile continued to dominate the tablet market space accounting for more than half of the total annual shipments the last three years since the pandemic started in 2020. Both brands greatly benefitted from the Department of Education’s Basic Education Learning Continuity Plan prompting mass procurement among DepEd Divisions and concerned LGUs,” said IDC senior market analyst Angela Medez. Othel V. Campos and recovery of our national economy,”

Customs Commissioner Bienvenido Rubio said in a statement.

“For this to be possible, we will also prioritize fostering a healthier trade environment through enhanced and modernized mechanisms for efficient trade facilitation and improved Customs operations for all our stakeholders,” he said.

Collections by the BOC climbed to

P862.4 billion (net of P4.8 billion tax refund) in 2022, outperforming the P643.6 billion raised in 2021 by 34.01 percent or P218.9 billion. The figure was also 19.53 percent or P140.9 billion above the P721.5 billion 2022 target.

The agency said the robust revenue performance was supported by efforts to ensure the recovery of deficient duties and taxes, improve tax compliance, tariffs on rice imports and public auctions of overstaying cargo. It said the December 2022 revenue of P73.2 billion was also up by 21.40 percent or P12.9 billion from a year earlier.

Aligned with the overarching directives of President Ferdinand Marcos Jr., Rubio leads the Customs in boosting revenue collection, enhancing trade facilitation and strengthening border protection while upholding good governance and curbing corruption. Meanwhile, the Customs’ Port of Subic foiled over 30,000 sacks of misdeclared refined sugar worth P150 million on March 2 in Subic Bay Freeport Zone in Zambales province. District collector Maritess Martin issued pre-lodgement control orders and alert orders following derogatory information from the Department of Agriculture about the subject shipments. Acting on the report received, Rubio, with Port of Subic District collector Martin, Agriculture assistant secretary James Layug and Subic Bay Metropolitan Authority chairman and administrator Rolen Paulino led the examination of 58 containers which yielded more than 30,000 sacks of misdeclared re- fined sugar with an estimated value of P150 million.

The BOC said it would issue a warrant of seizure and detention against the subject containers for violation of Republic Act 10863 or the Customs Modernization and Tariff Act and Sugar Regulatory Authority and BOC Joint Memorandum Order No. 04-2002.

The Customs also examined two containers of squid rings where they found several misdeclared assorted frozen meat products valued for P40 million.

“The BOC continues to maximize its intelligence resources and intensify enforcement measures to thwart all attempts of smuggling, especially those involving agricultural products that negatively impact our local farmers and businesses,” Rubio said.

Pse Index Closing

Friday, March 3, 2023 32.92 PTS.

6,655.37

F oreign e xchange r ate Bangko Sentral ng Pilipinas • FRIDAY, MARCH 3, 2023 Currency UnitUS DollarPeso United States Dollar 1.00000054.9840 Japan Yen 0.0073120.4020

UKPound1.19450065.6784

GOKONGWEI GROUP’S AWARDS. Gina Roa-Dipaling (center), vice president for corporate planning and investor relations and head of sustainability at Robinsons Retail Holdings Inc., receives the retail company’s Golden Arrow. With Dipaling during the awarding ceremony at the Sheraton Manila Hotel are (from left) Securities and Exchange Commission chair Emilio Aquino, Institute of Corporate Directors vice chair and president Boots Geotina-Garcia, Philippine Stock Exchange [resident and chief executive Ramon Monzon and ICD chair Cesar Villanueva. Four companies of the Gokongwei Group—RRHI, Cebu Pacific, Robinsons Land Corp. and Universal Robina Corp. are among the honorees at the Golden Arrow Awards.