Customs looking to raise P23.5M through auction
MANILA, Philippines – In a bid to raise revenue to partially offset missed targets, the Bureau of Customs (BOC) is looking to raise P23.5 million from a public auction sale of forfeited imported goods.
The auction will be held at the Manila International Container Port (MICP) on Tuesday, June 28. It will include 4 lots and 62 containers of various goods, the BOC said in a statement on Monday, June 27.
The Auction and Cargo Disposal Division (ACDD) of the MICP will auction off the following:
- refined sugar with a total floor price of P21,502,000 (two lots)
- expanded piocelan beads, polyethylene beads, expandable polystyrene beads kane pearl, and expanded polyprophylene beads with a total floor price of P1,728,000
- various goods such as footwear, plastic shoe mold, wiper blade, and piston with a total floor price of P300,000
The lots containing refined sugar can be bidded out to those registered with the Sugar Regulatory Administration as "B" or domestic market, the BOC said.
"We anticipate another successful public auction. This is our way of contributing to the revenues of the agency," said Gerry Macatangay, ACDD chief of the MICP.
The BOC failed to hit its targets once again last May, with the MICP falling widest off the mark with a deficit of more than P2 billion. The port is the bureau's biggest collection district.
Tuesday's auction is part of the BOC's efforts to close the gap before the Duterte administration takes over on June 30. Last year, the MICP booked close to P500 million through auctions.
Potential bidders may view more details on the BOC website. – Rappler.com