Based on January collection BOC Cebu optimistic to hit this year’s target

CEBU, Philippines - After hitting the January quota, the Bureau of Customs is optimistic it will reach its annual collection target for the year 2014.

BOC Cebu District Deputy Director for Administration, lawyer Paul Alcazaren, yesterday told reporters that they are considering January as a lean month.

The bureau's quota for January is about P1 billion which was accordingly met, a positive sign for the year.

The annual target for 2014 is P14 billion, higher than the 2013 target of P9 billion which was also hit.

Meanwhile, an accomplishment report of auctioned seized rice showed that 2013 had a total of 1,166 containers sold at a total of P871.3 million.

The first auction was held June 6, 2013 with 50 containers loaded with 26,013 bags of rice auctioned at a floor price of P35,741 and sold at P40,953,820.

This was followed on August 7 of the same year with 292 containers loaded with 162,240 bags of rice auctioned at floor price of P207,667,200 and sold at P211,748,280.

Another one was held shortly after last August 22 with 336 containers loaded with 174,720 bags of rice auctioned at a floor price of P223,641,600 and sold at P233,242,183.

Lastly, an auction was conducted September 19 with 488 containers loaded with 253,490 bags of rice auctioned at floor price of P324,467,200 and sold at P385,396,433.

Alcazaren added that they are currently conducting a thorough inventory of containers at the Cebu International Port where seized rice containers were placed.

"We are currently doing inventory of confiscated products including rice at CIP custody for future auction because early disposal would mean we could also demand higher bidding price," he told reporters.

Further, the local BOC official stressed that they have strengthened their capabilities specifically on the intelligence effort in line with the mandate of the new Customs bureau chief. (FREEMAN)