NTC collects P6.63B, exceeds revenue collection target

NTC facade (From its Facebook page)

MANILA, Philippines – The National Telecommunications Commission (NTC) collected P6.63 billion in revenues as it exceeded its 2022 collection target by P1.05 billion or 18.71%.

According to the NTC’s statement, the Development Budget Coordination Committee had set the NTC’s target collection at P5.58 billion.

The agency attributed this success to its “personnel’s concerted effort to strictly enforce stakeholders’ compliance in remitting spectrum users’ fees, supervision and regulation fees and penalties.”

“The NTC’s systematic collection effort is the agency’s modest way of contributing to the public service programs of our dear President Ferdinand R. Marcos, Jr. – priorities of which are on food security, free and universal primary education, and public health,” said NTC Commissioner  Gamaliel A. Cordoba in the same statement.

Cordoba also thanked the Department of Information and Communications for supporting the NTC’s regulatory initiatives.

The NTC exceeded its target for 2021 by P3.82 billion, or 72.4% over its goal.

READ: NTC trumps 2021 collection target by over P3.82B

All of the NTC’s collection targets were mandated in the Budget of Expenditures and Sources of Financing, as indicated in the Philippine constitution, and consolidated by the Department of Budget and Management, said the agency.

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/MUF