PHILIPPINE INTERNATIONAL TRADING CORPORATION
PITC@45: Stories of partnership and progress
AS a state-trading firm, the Philippine International Trading Corporation (PITC) is essentially a support provider and a silent player — a fully public service-oriented organization imbued with all the strategic and competitive spirit of a profit- oriented corporation.
Given PITC’s unique charter, the immediate goal is to revitalize the company’s strategies so it becomes more relevant to today’s highly competitive global trading arena. The aim is to prioritize improvements on PITC’s mandate by 1) growing our country’s international trading business; 2) participating actively in the socioeconomic development programs of the government; 3) strengthening organizational excellence; and 4) increasing revenues and assets.
“It is amazing what we can accomplish if we do not care who gets the credit. Such a collaborative and generous way of thinking aptly sums up the spirit of giving and teamwork that animates the work of PITC throughout the past five decades,” PITC president Dave Almarinez shares.
GROWING OUR INTERNATIONAL TRADE PRESENCE
Over the past three years, PITC continues to pursue growth strategy measures on key business streams to expand geographic footprint in sustainable and meaningful ways.
Toward this end, PITC proposed the passing of an Executive Order on Industrial Collaboration to the Office of the President. Its goal is to fully explore and maximize the advantages of countertrade in the import of select equipment for the government.
PITC also attracted more export buyers of Philippine products, significantly increased the shipment value of raw materials needed by exporters who use the customs bonded warehouse, and grew countertrade performance volumes to reach record highs over the past years.
In addition, PITC is now working on pioneering a government-to-government oil deal with Bangladesh, aside from following through on the new partnerships established with Russian corporations.
STRONGER AND FASTER
The government is the company’s main partner and client. PITC therefore nurtures partnerships and seek new areas for collaboration in pursuing innovative projects with state agencies.
For instance, PITC has been tapped by the Department of Information and Communications Technology (DICT) in helping President Duterte achieve his initiative to provide free internet access across the country. As the procuring entity for this major and timely undertaking, PITC is now actively rolling out this P2.385 billion Regional WiFi Infrastructure Network Project based on the highest standards of governance and ethical management.
In partnership with the Department of National Defense (DND), PITC is also working hard to modernize the equipment and key supplies of our armed forces. For this critical program, PITC is leveraging on the power of countertrade to ensure that the purchasing power of the government is well maximized and extended to fully benefit the military.
In aid of critical social services, PITC has likewise partnered with the Department of Social Welfare and Development (DSWD) to ensure the quality of supplies in two major government programs. These are the Pantawid Pamilyang Pilipino Program for our poorest families, and the Food Relief Commodities Project for people who have been badly affected by disasters and calamities.
PITC is also pushing for the establishment of “pharmazones,” or special economic zones dedicated to pharmaceutical companies, to turn the Philippines into a major manufacturing hub for medicine in Southeast Asia.
Alongside numerous other programs for the government, PITC is now working on these initiatives at a faster pace than ever to ensure speedy delivery of services and continuous process improvements through various valueadded communication and feedback mechanisms.
ORGANIZATIONAL EXCELLENCE AND REFORM
As a state-trading company created by law, PITC is the country’s secret weapon in ensuring that the scales of global trade are constantly fair or advantageous to the Filipino. As such, PITC’s managers and staff remain agile and flexible — always ready to play key roles in the country’s ever-changing global trade strategy in direct benefit of local economic growth.
To maintain the quality of work output and improve competencies, the company embarked on a major organizational excellence program that will be strictly implemented.
Headed by the top managers of PITC, this program is now driving change management and a host of organizational improvements, particularly in the areas of good governance, human resources, security, and communications. PITC is fully compliant with Commission on Audit rules, re-certified for ISO 9001:2008, achieving a rare “grand slam” of zero nonconformity and commended on three key operational areas: HR training and development, customer satisfaction, and performance review.
PITC likewise strengthened internal controls, fully complied with current transparency and governance requirements, and even investigated and blocked fraudulent sugar and rice import transactions by people who misrepresented themselves as officers of PITC.
STRONGER BOTTOMLINE
All these measures have resulted in significant financial outcomes, as PITC continues to prove its role as a self-sustaining international trading arm of the government that works for its own finances to bring life to programs.
In 2017 alone, PITC has reached a record-high positive retained earnings figure compared to the last 14 years, increasing sales turnover by 57 percent and net income by 49 percent relative to the company’s 2016 performance. These upward trends are a concrete manifestation of how PITC is, once again; reshaping the way trade is understood and practiced in the country.
EMBRACING CHANGE
The company has achieved a good deal, but will never rest on past accomplishments. With eyes on the future, PITC is now continuing to embrace change, striving to provide end-to-end services that facilitate cross-border transactions at minimal costs and maximum efficiencies.
“For over 45 years, this government-chartered trading company has been tirelessly working behind the scenes to support our country’s global trade programs. Without the need for publicity or fanfare, many of PITC’s leaders and staff have played crucial roles in most of our government’s major economic strategies. This, to me, is a true testament to the open-handed nature of PITC’s work and the genuine spirit of public service that it embodies and upholds,” Almarinez emphasizes.
Paying tribute to PITC’s rich history, the management wishes to thank all of the company’s officers and staff for all the sacrifice and hard work. Rest assured that the leadership will continue to lead by example, embody the highest ideals of public service and remain as the government’s trusted partner in advancing global trade for the benefit of all Filipinos.