ISLAMABAD: The Air Freight Unit (AFU) Islamabad is facing an expected shortfall of Rs57million revenue under the head of CD during January FY17-18 against an assigned revenue collection target.
According to details explained by official sources of the Air Freight Unit (AFU) Islamabad that it was already expected from the beginning of the month of January FY17-18 when a high target was assigned which underlay failure.
During the month of January FY17-18, the AFU received a revenue of Rs218.56million against an allocated revenue target of Rs275.50million as CD. The AFU showed -21% decrease in the revenue performance against an assigned revenue target for the month of January FY17-18.
The AFU earned Rs6.8million extra revenue during January FY17-18 against an earmarked revenue collection of CD during corresponding January FY16-17. It recorded 3% increase in the revenue collection against said previous period, sources said.
Sources told CT that the AFU collected extra revenue of over Rs200million as Customs Duty during 2nd Quarter Fiscal Year 2017-18 against an assigned revenue collection target. During 2nd Quarter (October to December) FY 2017-18, the AFU received Rs915.888million of revenue against an allocated revenue collection target of Rs714.87million while it earned Rs505.00million under the same heads during 2nd Q of FY 16-17.
During 2nd Q FY 17-18, the AFU collected 382.64% average of achievement against an earmarked revenue collection target under the head of CD whereas, during 2nd Q FY17-18, the AFU demonstrated 383% growth against a revenue collection of corresponding 2nd Q FY16-17.
