The Land Transportation Office-National Capital Region (LTO-NCR) reported on Wednesday that its revenue collection for the first half of 2024 rose by 2.70 percent compared to the same period in 2023, reaching Php 4,674,616,188.70 or 4.67B pesos.
Annabelle N. Quevedo, Chief of the Financial Management Division (FMD)
Annabelle N. Quevedo, Chief of the Financial Management Division (FMD) at LTO-NCR, reported that the agency has exceeded the first half of the previous year’s revenue collection of Php 4,551,572,083.66.
She attributed the increase to strong collection in January, February, April, and May, which comprised 70.80 percent of the total revenues or the equivalent amount of around Php 3 22B.
The bulk of the collections came from registration and licensing, with revenues amounting to Php 4,141,435,851.70 and Php 475,251,692.00, respectively. Additionally, the Law Enforcement and Traffic Adjudication System (LETAS) contributed Php 49,481,080.00, and the Motor Vehicle Inspection Center (MVIC) added Php 8,447,565.00.
(NCR Regional Director Roque “Rox” I. Verzosa III)
LTO-NCR Regional Director Roque “Rox” I. Verzosa III stated that the region will strive to maintain revenue growth for the second half of 2024.
“We appreciate and acknowledge the efforts of all LTO-NCR employees who have contributed to the growth of our revenue collection in the first half of the year. Asahan nyo we will strive harder to maintain our revenue growth for the second half of 2024,” he said.
