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FBR collects 3pc more customs duty than set target in August

FBR collects 3pc more customs duty than set target in August

ISLAMABAD: The Federal Board of Revenue (FBR) raked in Rs45.9 billion under the head of customs duty during the month of August against the set target of Rs44.3 billion.

According to a statement, the FBR collected three per cent more customs duty than the assigned target during the month. The board faced administrative problems in revenue collection due to the Covid-19 pandemic, it said.

The customs duty target for the month of August was Rs 44.3 billion, but a sum of Rs 45.9 billion was collected, which is 3 per cent more than the set target of the month.

The Pakistan Customs cumulatively collected Rs93.9 billion in terms of customs duty during the first two months of the current fiscal year against the target of Rs87.3 billion, which is 7.5 per cent more than the set target.

The FBR said the revenue collection target was achieved despite slow clearance of imported goods at Karachi port due to torrential downpour in the last week of August.