ISLAMABAD: Air Freight Unit (AFU) Islamabad have assigned revenue collection target amounting to Rs.210 million under the head of customs duty for the month of December 2016-17.
Additional Collector Khawaja Khuram Naeem while talking to Customs Today said that AFU will use all available resources to meet the assigned target of December FY16-17, adding that AFU will clear its specific goods stores through holding auctions.
He added that AFU will meet its assigned target by clearance of stuck stores, auction as for as by bank guarantees encashment, he said that AFU’s performance during first quarter was satisfactory and it will also surpass its assigned target for the month of December 2016-17 will surpass its assigned target of 2nd quarter (October to December FY16-17).
He told that Collectorate was given revenue collection target of customs duty for first quarter under value of Rs.444 million and AFU achieved its assigned target of revenue with collection of Rs.458 million under head of CD.
Khawaja added that the Collectorate was assigned revenue collection target under head of withholding tax amounting to Rs633 million and AFU collected WHT amounting Rs.394 million under head of WHT during 1st quarter FY16-17.
He adding that during the first quarter of financial year 2016-17 AFU did not meet its set target of WHT due to Free Trade Agreement (FTA) with China, Pakistan has given duty free market access to China mainly on machinery; organic; and inorganic chemicals, fruits & vegetables, medicine and on other raw materials for various industries including engineering sector, intermediary goods for engineering sectors, etc the additional collector said.
