32.6pc increase recorded in Customs Duty collection in 2015-16

KARACHI: An increase of 32.6 per cent was recorded in Customs Duty collection during the fiscal year 2015-16.

A Federal Board of Revenue?s (FBR) report said that primarily the end of Statutory Regulatory Orders (SROs) pushed up Customs Duty collection.

Besides this the increase in Customs Duty ratio also helped in the increase in the collection, it added.

It said that a total Rs.418.2 billion was collected under the head of Customs Duty during 2015-16, while the net collection was Rs. 406.2 billion, which is 32.6 per cent higher than the collection of 2014-15.