KARACHI: The Directorate of Internal Audit has detected that 20 consignments of M/s Pak Suzuki Motor Co. Limited was processed without payment of duty and taxes in July 2013, the recoverable duty/taxes come to Rs307.956 million.
The Directorate of Internal Audit had advised MCC Port Qasim to justify this omission and effect recovery of Rs307.956 million along with default surcharge from M/s Pak Suzuki.
During scrutiny of Bank Guarantee Section MCC Port Qasim, Internal Audit has also pointed out loss of revenue due to non encashment of 44 post-dated cheques, which have been time barred since more than one year.
During scrutiny of Baggage Declarations (BDs) at MCC Port Qasim, it was noted that the exchequer sustained a revenue loss of Rs23.022 million due to wrongly imposition and realization of 20 percent redemption fine instead of 30 percent as prescribed under law.
Directorate of Internal Audit has found several other discrepancies and irregularities at MCC Port Qasim which resulted in loss of revenue to the national exchequer. The Internal Audit has advised the Collectorate to justify the omissions and effect the recovery of government’s legitimate revenue.