The Land Transportation Office (LTO) is on track to exceed its 2024 revenue target, recording a significant 34% increase in collections from January to May compared to the same period last year.
This positive development comes after the agency, under the leadership of Assistant Secretary Atty. Vigor D. Mendoza II, implemented a series of innovative and impactful measures to boost revenue collection.
"From our law enforcers on the roads to our frontline service personnel, everyone at LTO has contributed immensely to this accomplishment," said Assec. Mendoza.
The P33 billion target for 2024, while ambitious, was deemed achievable after a thorough data analysis and financial assessment conducted upon Assec. Mendoza's assumption of office in July 2023.
The implemented policy reforms, guided by Department of Transportation Secretary Jaime J. Bautista, resulted in a 34.07% increase in revenue collection during the first five months. This impressive growth applies across all revenue sources:
- Motor Vehicle Users Charge: 15.33% increase (P8.6 billion to P9.9 billion)
- Driver's License Transactions: 10.50% increase (P1.479 billion to P1.634 billion)
- Law Enforcement and Traffic Adjudication System: 25.26% increase
- Other Revenue Sources: 128% increase
Assec. Mendoza expressed confidence in achieving the P33 billion target, highlighting the dedication of LTO personnel and the planned intensification of efforts in vehicle registration and driver's license processes.
"With the unwavering commitment of the LTO workforce, I am confident that we can surpass our revenue collection goal," he said. "These additional resources will significantly contribute to the programs of President Marcos, particularly those geared towards serving Filipinos in need."
Mendoza concluded by urging all LTO personnel to continue their dedication, emphasizing the collective effort required to achieve this goal: "For our nation, for our countrymen, for a Bagong Pilipinas!"