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The purpose of the PPA is to evaluate if the fair value of all assets and liabilities on the opening balance sheet is different from the stated book value.
The Philippine Ports Authority is a Government Owned and Controlled Corporation (GOCC) attached to the Department of Transportation and Communications (DOTC). Organization-wise, the PPA set-up is influenced by the peculiar geography of the Philippines.
Because PPA is a government entity created by state legislation, it can own Philadelphia's 8,850 coin-operated meters and 1,020 multiple space parking kiosks. As long as a street is public, parking on that street implicates the government's \u201cpolice power\u201d and thus could not be sold to a private entity.
The Philippine Ports Authority (PPA) was created on July 11, 1974 with the issuance of Presidential Decree (PD) No. 505.
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