LAHORE: Central Region of Pakistan Customs has collected total customs duty of Rs 30,147 million for the fiscal year 2013-14, up 6 per cent against Rs 28,462 million during the same period last fiscal year.
However, central region seemingly missed the set target of Rs 33,798 million by 11 per cent.
Model Customs Collectorate of Appraisement, Lahore has collected Rs 15,997 during FY 2013-14 against Rs 12,970 missing target for the year by 13 per cent while the collectorate attained a growth of 8 percent during the same period last year.
Meanwhile, the Collectorate of Preventive, Lahore, collected Rs 5,045 million against a target of Rs 5,024 million. The collectorrate gathered Rs 4,025 million during the same period of last FY.
The Collectorarte of Preventive showed a handsome growth of 25 per cent during the last year while hardly achieved the target this FY.
Model Customs Collectoarte of Multan also missed the target by 9 per cent collecting Rs 9,535 against the target of Rs 10,463. While, during the same period last fiscal year the collectorate earned a growth of 4 per cent.
Model Customs Collectorate of Faisalabad showed a bad performance, missing the target by 31 per cent while during the same period last fiscal year the collectorate had attained a growth of 30 per cent.
The collectortate gathered on Rs 1,593 against the target of Rs 2,313 while during the same period last fiscal year the collectorate had Rs 2,289 against the target of Rs 2,074.
Customs top officials linked the bad performance of Multan and Faisalabad collectorates to falling imports of oil at the collectorates.
“Multan and Faisalabad are largely dependent on oil import. This would give a tough time due to hefty reduction of imported oil’s clearance at these two collectortaes,” Chief Collector of Customs Central Region, Rozi Khan Burki told this scribe.
“Till the last fiscal year the ratio of imported and indigenous oil ratio was 80 and 20 per cent respectively. However, the ratio of imported oil has squeezed to 50 per cent while local oil consumption has increased to 50 per cent, creating a gap of 30 per cent,” he said.
Chief Collector said, “It is otherwise good for the Pakistani economy as it is saving valuable foreign exchange reserves.”
“Nevertheless, we need revenues which is exclusively generated by the clearance of imported oil,” the chief collector explained.