KARACHI: Data from an official report of Customs Appraisement South suggests that Pakistan’s import of leading items, which contributed significantly towards the Customs revenue declined drastically in the first four months of the current fiscal year.
Similarly, a considerable surge was witnessed in the import value of certain other goods and subsequent increase in duty collection on these imports.
Mineral fuels, mineral oils and products are imported in a very large quantity and contributes significantly in the revenue collection at Customs stage. The import of this commodity during the four months (July-October 2015) declined by 45 percent to Rs86.794 billion as against the import of Rs145.176 billion in the same period last year.
Similarly, import of electrical machinery and equipment in 4MFY16 stood at Rs58.553 billion as compared with the imports of Rs63.255 billion in the same period last year. Animal or vegetable fats/oils import also declined by 69 percent to Rs4.676 billion during the period under review as compared with the import of Rs13.745 billion in the same period last year.
Import of fertilizers declined to Rs21.491 billion in 4MFY16 as against Rs28.013 billion in 4MFY15.
Import of petroleum oils and mineral oils (other than crude) declined to Rs50.677 billion in 4MFY16 as against Rs127.004 billion in 4MFY15.
Import of palm oil and its fractions declined to Rs2.228 billion in 4MFY16 as against Rs10.283 billion in 4MFY15.
Import value of iron and steel articles stood at Rs14.29 billion compared with the import value of Rs20.289 billion a year earlier.
Import of man-made staple fibers stood at Rs27.84 billion as against import of Rs29.67 billion in the same period last year.
Meanwhile, import of petroleum gases and hydrocarbons surged to Rs24.706 billion in 4MFY16 as compared to Rs28.181 million in the same period last year. Import of tea increased to Rs17.411 billion as against import of Rs11.47 billion in the same period last year.
Import of flat rolled products of other alloy steel (600mm and more) increased to Rs9.431 billion as against import of Rs5.052 billion in the same period last year.
Import of motor cars and vehicles increased in the July-October 2015 to Rs27.161 billion as against import of Rs23.074 billion in the same period last year.
Moreover, import of electrical generators and rotary convertors surged to Rs13 billion in 4MFY16 compared with Rs10.44 billion in the same period last year.
