Customs achieves 10-month revenue collection target

KARACHI: Pakistan Customs has achieved 10 months revenue collection target of Rs337 billion two days ahead of deadline, Member Customs Muhammad Zahid Khokhar told The News on Saturday.

The Federal Board of Revenue (FBR) has assigned Rs337 billion target during July–April 2016/17, which was achieved on April 28, 2017, he added.

He expressed the hope that the full-year collection target of over Rs500 billion would also be achieved by June 30.

Early this year, the government had assigned Rs475 billion target. However, considering the enhanced collection by the Customs, the target was revised upward to Rs503 billion.

At the national level, the FBR collected Rs256 billion till April 28, which is 19 percent higher as compared to Rs215 billion collected up to April 28, 2016.

Sources in the FBR said the total collection had
increased to Rs2,516 billion during July 1, 2016-April 28, 2017, showing nine percent growth as compared to Rs2,309 billion during the corresponding period of the last year.

The sources said in the remaining two days, the FBR is expecting to collect substantial amount and, for this purpose, the offices of Inland Revenue remained open on weekly holiday Saturday, April 29.

The sources said some revenue generation steps might be taken in the budget 2017/18, which would be announced on May 26.

Any additional duty and tax announced on the budget day would be applicable from the same day, the sources added.