THE Bureau of Customs (BOC) on Tuesday announced having collected more than P229 million representing payment for demandable bonds by the Government Service Insurance System (GSIS) since 1976.
Customs Commissioner Alberto D. Lina said the uncollected bonds totaling P229,648,301.71 came from the three major ports in the country—the Manila International Container Port (MICP), the Port of Manila (POM) and the Ninoy Aquino International Airport (Naia).
The largest collected bond came from the MICP, which collected P148.53 million covering 176 bonds; followed by the POM, which collected P65.97 million from 114 bonds; and the collection district of the Naia with P15.18 million from another 71 bonds.
“These GSIS-issued customs bonds, like warehousing bonds, reexport bonds and surety bonds, were not liquidated and canceled by importers that is why they became due and demandable dating as far back as 1976 up to 2003,” Lina said.
Lina added that the amount collected would augment funds of the government for various projects. “We are happy with the development as we are now getting paid for unliquidated bonds spanning for several decades. It is good that GSIS President Robert Vergara wanted to clear it from their books,” Lina added.