KARACHI: The Model Customs Collectorate MCC Appraisement-West on the directives of Collector Muhammad Saleem has announced auction schedule for the month of January 2015. Two auctions would be held under MCC Appraisement-West at Karachi International Containers Terminal (KICT) and West Wharf.
The first auction would be held at KICT from 19 January to 22 January at 10.00am. The confiscated consignments including general cargo, fertilizers and shed lights would be placed for auction at KICT. The second auction of different commodities including general cargo, fertilizers, machinery and shed lights would be held from 26 January to 29 January at West Wharf at 10.00am.
These auctions will be held under Auction Rule 450(1)/2001 and the bidders, who participate in the auctions at KICT and West Wharf will be asked to pay 25 percent of the total amount at the time of auction while remaining 75 percent amount along with 10 percent Income Tax would be deposited in the national exchequer within 7 days of the auctions.
The sources informed Customs Today that the Collector MCC Appraisement-West Muhammad Saleem has given clear directives to all authorities concerned to put their positive efforts in order to generate revenue and holding of auctions at regular interval is one of initiative taking in order to generate revenue for the fiscal year2014-15.
