KARACHI: Data from an official report suggests that Pakistan’s import of leading items, which contributed significantly towards the Customs revenue declined drastically in the first nine months of the current fiscal year, which is reflected in lower revenue collection on these goods.
Similarly, a considerable surge was witnessed in the import value of certain other goods and subsequent increase in duty collection on these imports offset the impact of erstwhile.
Palm oil and its fractions are imported in a very large quantity and contributes significantly in the revenue collection at Customs stage. The import of this commodity during the nine-month period (July 2014 to March 2015) declined by 83 percent to Rs19.656 billion as against the import of Rs120.497 billion in the same period last year. Resultantly the Customs duty collected also declined by 81 percent to Rs1.962 billion.
Similarly, import of woven fabrics of cotton in 9MFY15 stood at Rs363 million as compared with the imports of Rs5.8 billion in the same period last year. The Customs duty collected on these goods also declined significantly to Rs26.2 million in 9MFY15 as against Rs1.152 billion last year.
Other Footwear import also declined by 99.8 percent to Rs1.646 million during the period under review as compared with the import of Rs1.396 billion in the same period last year.
Import of Polymers of propylene or of other olefins in primary forms declined to Rs35.529 billion in 9MFY15 as against Rs41.051 billion in 9MFY14. Customs duty collection declined to Rs1.625 billion in 9MFY15 as against Rs1.886 billion in 9MFY14.
Import value of synthetic filaments yarn stood at Rs26.085 billion attracting Customs duty collection of Rs2.037 billion in 9MFY15 compared with the import value of Rs29.467 billion and Customs duty collection of Rs2.257 billion.
Import of Machines and mechanical appliances stood at Rs7.12 billion vis-a-viz customs duty collection of Rs201 million in 9MFY15 as against import of Rs10.178 billion and customs duty collection of Rs404.813 million in the same period last year.
Import value of stranded wire, cables, plaited bands and the like of aluminum stood at Rs484.824 million and Customs duty collection of Rs90.499 million in 9MFY15 as compared with import value of Rs1.611 billion and custom duty of Rs290.502 million in 9MFY14.
Import of flat rolled products of iron or non-alloy steel (600mm) surged to Rs20.172 billion in 9MFY15 as compared to Rs18.037 billion in the same period last year. However, the customs duty collected on these imports declined to Rs1.774 billion in the period under review as against Rs1.924 billion in the same period last year.
On the contrary, import of motor cars and vehicles increased in the July 2014 to March 2015 to Rs52.651 billion attracting custom duty of Rs20.584 billion as against import of Rs41.164 billion and custom duty collection of Rs16.825 billion in the same period last year.
Import of electric apparatus for line telephony or line telegraphy increased in the July 2014 to March 2015 to Rs26.039 billion attracting custom duty of Rs3.607 billion as against import of Rs26.901 billion and custom duty collection of Rs1.305 billion in the same period last year.
Import of oil cake and other solid residue increased in the July 2014 to March 2015 to Rs24.36 billion attracting custom duty of Rs11.218 billion as against import of Rs6.952 billion and custom duty collection of Rs0.195 million in the same period last year.
Import of woven fabrics of artificial staple increased in the July 2014 to March 2015 to Rs7.104 billion attracting custom duty of Rs1.064 billion as against import of Rs1.13 billion and custom duty collection of Rs164.445 million in the same period last year.
Milk and cream of Rs11.314 billion was imported in 9MFY15 on which customs duty of Rs3.421 billion was collected while in 9MFY14 import of these goods stood at Rs7.893 billion on which customs duty of Rs2.685 billion was collected.