LTO posts 6.96% hike in revenue

The Land Transportation Office (LTO) posted a collection revenue of P5.6 billion in the first half of the year, up 6.96 percent from the figure posted during the same period last year.

Officials said the agency was able to surpass its first semester revenue target by more than P46 million.

Based on the LTO’s accomplishment report, the main source of revenue remained the Motor Vehicle User’s Charge (MVUC), which comprises 76 percent of the total collection.

Other sources were vehicle registration penalties (6.9 percent) and license fees (5.6) percent.

Almost all the regions increased their first semester revenues from last year with the National Capital Region (NCR) posting the highest collection of more than P2 billion.

The Central Office registered the greatest increase in revenue at 39.97 percent.

Regions 12 and Region 10 also posted significant improvements, at 24.66 percent and 11.87 percent, respectively.

LTO chief Assistant Secretary Anneli Lontoc said the agency’s strong revenue indicates that the agency has been efficiently carrying out the tasks mandated by the government.

"The revenue collection will go back to the public in the form of better service and projects from the LTO," Lontoc said. – Sandy Araneta