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Business & Finance

Auctionable goods: FTO asks customs to do away with huge pendency

  • FBR has so far collected Rs5.34 bn by disposal of goods through auction
Published July 26, 2022
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ISLAMABAD: In a landmark order, the Federal Tax Ombudsman (FTO) in pursuance of an own motion investigation has ordered the Customs authorities to do away with the huge pendency of auctionable goods/vehicles.

In compliance with the above-mentioned directives, the FBR has so far collected Rs5.34 billion by disposal of goods through auction.

The own motion investigations were initiated by the FTO on the reports that a large quantity of confiscated or otherwise uncleared goods and vehicles were lying un-disposed at Customs formations all over the country, involving stuck up revenue of billions of rupees.

The Customs Laws, Rules, Customs General Orders (CGOs) and instructions provide for expeditious disposal and auctions of such goods and vehicles, however, the Customs authorities are not disposing these goods and vehicle shaving tampered and non-tampered chassis numbers as required under the law.

The data pertaining to the un-disposed lots ripe for auction was collected for the analysis purposes by the FTO which revealed that a total of 8,522 lots are un-disposed and still pending in auction.

The FTO has directed the FBR to do away with the huge pendency of auctionable goods/vehicles.

Furthermore, Member Customs (Operations) was to personally monitor the above activity and disciplinary action to be initiated under E&D rules 2020 against the Collectors/ Directors who fail to comply with this direction.

Copyright Business Recorder, 2022

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