Collectorate of Customs Gwadar surpasses revenue target

QUETTA: Collectorate of Customs, Gwadar has exceeded the assigned revenue target by 114 percent during the first half of current financial year. The Collectorate succeeded in collecting Rs 7.261 billion under the head of Customs duty against the assigned target of Rs 6.351 billion.

Total Customs duty collected during the first half of this financial year is 18 percent higher than the collection of Customs duty i.e. Rs 6.15 billion made during the correspondence period of last year.

Moreover, Collectorate also succeeded in collecting various duty/taxes at import stage to the quantum of Rs 20.4 billion during the first half of the current financial year which is 40 percent higher than the duty/taxes collected i.e. Rs 14.55 billion during the corresponding period of last year.

Three border crossing points on Pak-Iran border fall within the jurisdiction of the Gwadar Collectorate. Major items traded during the current financial year remained LPG, Petroleum Bitumen, Petroleum Jelly, Clinker, and dates.

This year clearance of goods facilitated by the Collectorate through border crossing points valued at Rs 163.5 billion showing increase of 25 percent against goods valuing Rs 130.0 billion cleared during the corresponding period of last year.

While facilitating the trade across the border, the major part of the revenue during the current financial year has also been collected through these three Border Crossing Points located on Pak-Iran border.

The increased revenue collection on these BCPs has been made possible due to better and efficient monitoring, roll-out of automation and trade facilitation on the BCPs for trading across the border. These ease of doing business measures introduced by the Customs has encouraged the local traders to resort to the legal channel of trade.

Copyright Business Recorder, 2024