TODAY'S BUSINESS HEADLINES

Winning Korean bidder seeks reduction in $440.88-million price tag for Angat power plant

Pag-Ibig mulls P5 billion investment in stocks

Asia Brewery eyes dairy manufacturing hub in Laguna for exports to Southeast Asia

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Cargo release at ports slows after Customs' E2M shuts down

Manila International Container terminal

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MANILA - The release of cargo at the country's ports has slowed following the shutdown of the Bureau of Customs' electronic-to-mobile or E2M system.

The shutdown began Thursday after the software used in the E2M expired.

Deputy Commissioner Caridad Manarang on August 3 ordered the manual release of imports to minimize disruption in the supply chain of different businesses.

The bureau has directed personnel to work over the weekend to facilitate cargo release.

In its August 3 memorandum, Customs asked accredited banks to send through email the record of settled duties and taxes of import entries.

“The system is already up on Friday but only for BOC's use. Stakeholders cannot use the system yet. We continue to have the system fixed with the connection to the VASP,” Manarang said, referring to the value-added service provider.

The Confederation of Truckers Association of the Philippines warned that if the situation persists this week, cargo congestion would worsen.

The E2M system has experienced a series of technical difficulties since it was rolled out during the Arroyo administration, but this is the first time it collapsed on account of an expired software license.

 

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