MANILA: The Land Transportation Office (LTO) has recorded a 34-percent increase in revenue collection from January to May this year, compared to the same period in 2023.
In a statement on Friday, LTO chief Assistant Secretary Vigor Mendoza II said their total revenue for the first five months of 2024 reached PHP17.9 billion, from PHP12.8 billion last year.
‘From our law enforcers on the roads and our personnel on desks of our frontline services up to the regional offices and the Central Office, everyone has contributed a lot in achieving this accomplishment,’ Mendoza said.
He pledged to sustain the agency’s efforts in accomplishing its revenue collection target of PHP33 billion in 2024.
‘This target revenue is essential in the delivery of basic services to the Filipino people under the Bagong Pilipinas (new Philippines) of our President Ferdinand R. Marcos,’ he said.
Based on LTO data, all revenue sources recorded a significant increase — a 15.33 percent increase in motor vehicle user charges (from PHP8
.6 billion to PHP9.9 billion) and a 10.50 percent increase in driver’s license transactions (from PHP1.479 billion to PHP1.634 billion).
In addition, aggressive law enforcement activities of the LTO also resulted in a 25.26 percent revenue increase from the Law Enforcement and Traffic Adjudication System and a 128 percent increase in other revenue sources of the agency.
‘With the help of the hardworking men and women of the LTO, I am confident that we can reach the target we set in terms of revenue collection,’ he said.
Source: Philippines News Agency