Members of Federation of Philippine Industries (FPI) called for a “24/7 close monitoring” of the trading practices of low-cost cigarette manufacturer Mighty Corp. by the Bureau of Customs (BOC) and the Department of Finance (DOF).
According to Jesus Lim Arranza, he said that would be best not only for the BOC and the DOF but also for Mighty Corp., which operates a cigarette factory in Barangay (village) Tikay, Malolos, Bulacan.
“For the government, the move would prevent further revenue leakages while its investigation of Mighty Corporation’s business practices is ongoing, and for the cigarette firm, a chance to prove its innocence in the serious allegations it is facing,” Arranza said.
He lauded the customs bureau for suspending Mighty Corp’s license to operate a bonded warehouse.
Regarding the memorandum that was ordered by Customs Commissioner John Phillip Sevilla to Mario Mendoza, district collector at the Port of Manila last January 16 to immediately implement the suspension order.
“The initial report of a DOF task force reveals that Mighty Corp. committed serious violations of tariff and customs laws, rules and regulations, resulting in huge revenue losses to the government,” Sevilla said in a memo.
Meanwhile, executive vice president of Mighty Corp, Oscar Barrientos said the suspension order did not cover the firm’s regular importation for the domestic market.
“The company will continue to cooperate with the authorities pending the full and final results of the inquiry being undertaken by Task Force Mighty Corp. We will address allegations at the appropriate time as soon as we receive the final report on the findings,” he said.
“Nothing has changed and until such time that we receive the final report of the task force, it will be business as usual,” Barrientos added.
The allegedly suspension order was expected to seriously disrupt the firm’s business operations, mainly the importation of tobacco leaves and other raw materials used in cigarette manufacturing.
The operation of a customs bonded warehouse had allowed Mighty Corp. to import duty-free tobacco items, supposedly for re-export to other countries.
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