Customs initiates exercise to analyse abnormal shift in imort trends
KARACHI: In view of declining revenue collection viz-a-viz abnormaly declining trend in the imports of certain goods, Pakistan Customs has initiated an exercise to analyze the trend and identify the reasons of the switch in import patterns.
Sources said Customs Appraisement South has scheduled a series of meetings to deliberate on this situation. It was also learnt that Chief Collector Abdul Rashid Shaikh is heading this meetings, which are being attended by Collector Appraisement East Dr. Ashad Jawad, Collector Appraisement West Dr. Fareed Iqbal Qureshi and Collector Port Qasim Mukarram Jah.
Customs is analysing whether decline in import of certain goods was linked to smuggling or the demand was actually declining and for what reasons. There has also been abnormal increase in the import of certain goods and it may be the result of the targetted anti-smuggling drive being pursued by the authorities.
As per the import data of Customs Appraisement South the import of mineral or chemical fertilizer declined by over 41 percent to Rs17.1 billion during July-October 2016 against the import value of Rs29.7 billion in the same period last year. However, the quantity of the goods imported during this period only declined 22 percent.
Similarly, the import value of oil cakes and toher solid residue during July-October 2016 declined by 97.8 percent to RS435.7 million comapred with Rs19.8 billion in the same period last year. Import quantity also declined by 97 percent. Import value of cyclic hydrocarbons during July-October 2016 declined by 14 percent to Rs7.45 billion comapred with Rs8.68 billion in the same period last year. Import quantity declined by 11 percent.
There are number of items including electric generating sets, flat rolled products of iron and steel, synthetic staple fibers , palm oil, coal and yarn, which have registered abnormal decline in import values.