Pakistan Customs’ revenue collection crosses Rs1.0 trillion mark
KARACHI: The revenue collection by Pakistan Customs crossed the trillion mark, as Pakistan Customs collected Rs1.076 trillion in the fiscal year 2015-16, up 16 percent as compared with the total revenue collection of Rs927.75 billion in 2014-15.
According to data available with Customnews.pk, the Customs duty collection by Pakistan Customs surged by 17 percent to Rs295.336 billion in FY 2015-2016 as compared with the collection of Rs252.195 billion last year.
Customs duty collection by Pakistan Customs South region surged by 22 percent to Rs253.218 billion in FY2015-16 as compared with the collection of Rs207.614 billion last year.
Overall sales tax collection at import stage stood Rs603.069 billion during the period under review, up 17 percent as against Rs513.923 billion in FY 2014-15.
Customs Appraisement South’s collection of sales tax at import stage stood at Rs495.6 billion, up 15 percent as against Rs429.202 billion collected last year.
Highest revenue collection in terms of Customs duty came from MCC Appraisement West, which collected Rs78.9 billion followed by MCC Port Qasim collecting Rs75.216 billion and MCC Appraisement East collecting Rs70.513 billion in FY 2015-16.
It is worth mentioning here that the revenue collection grew significantly despite of the fact that dollar was stable and commodity prices were on lower side.
This is the vision of Chairman FBR Nisar Mohammad Khan and he has posted hones and well-reputed officers on sensitive positions; an effective anti-smuggling campaign was pursued and concessionary regime was limited to a maximum extent. Moreover, the customs valuation of importable goods were rationalized and brought at par with the prices prevailing in the international market.