LAHORE: Collectorate of Customs Appraisement has attained growth rate of 5.9 percent in the month of October of financial year 2017-18 as compared to the same period of the corresponding month of the last fiscal year.
The Customs Appraisement has collected customs duty of Rs 3,585 million in October against Rs 3,380 million collected during the same period in the financial year 2016-17. The Collectorate collected Rs 205 million extra against the last year. The Collectorate of Appraisement collected Rs 7.7 billion in first four months of fiscal years of 2017-18.
The Collectorate not only achieved growth of 7 percent as compared to the last year but also exceeded the target by 18 percent. It is perhaps due to the strategies the department had adopted and brought about many changes in the Collectorate at every level.
The Collectorate of Customs Appraisement collected Rs 3386 million and attained a growth of almost 6 percent against the corresponding period of FY 2016-17.
Collector Jamil Nasir said that “the Collectorate had also met its revenue target in the previous months and this consistent increase in revenue was made possible only because of the initiatives taken by the department to optimise revenue collection.”
Nasir added that collection also increases with a decrease in the cost of doing business at the dry ports of Lahore. “The cost was reduced through streamlining of clearance procedures and restructuring of various Sections and branches of the collectorate,” said he.
Moving ahead, he observed that the jump in customs duty collection during October, 2017 is a clear indication of the fact that the business-friendly measures aimed at trade facilitation are delivering.
“I am confident that the Collectorate will not only achieve its target in the coming days but also reduce the cost of doing business further,” Nasir said and added the facilitation measures taken by his team will hopefully attract the leading manufacturers and importers for customs clearance from the dry ports of Lahore.
He also added that recoveries increased in last three months. He said that customs appraisement will do every best effort to facilitate the importers and to collect their assigned target before the given time.
