PPA targets 90% budget utilization in 2023 after 83% rate in 2022
THE Philippine Ports Authority (PPA) said it has set a target of 90% budget utilization in 2023 after it posted an 83% performance last year.
The regulator said in a statement that utilization has been growing since 2016. In 2015, the PPA posted a 52% budget utilization rate.
Since 2016, “the agency reported a more or less 12% increase every year,” with the 2022 performance its highest yet.
Its 2021 performance was 71%, while its 2020 utilization was 62%.
“For 2023, we are aiming to surpass our 83% to 90%. We want to show the public that we are serious in getting the job done and that we don’t waste PPA’s budget,” PPA General Manager Jay Daniel R. Santiago said.
For locally funded projects, PPA posted a 97% utilization rate across 62 projects, which include the construction of port operations areas and passenger terminal buildings, renovation of port buildings, and dredging of entrance channels.
In 2023, the PPA is expecting to roll out 13 infrastructure projects, which include the construction of port operations buildings, transit sheds and port operations areas, and pier extensions. — Justine Irish D. Tabile