ISLAMABAD: The Auction Cell of the MCC Islamabad will hold a public auction of the impounded goods and vehicles on February 8, 2017-18 at the state warehouse Islamabad.
According to details explained by Majid Hussain Gadd, Assistant Collector Model Customs Collectorate (MCC), that the MCCI is planning to meet the annual assigned revenue collection target of Rs15559.23m under all heads. The above said announcement of auction is an initiative to meet with the allocated revenue target.
The Auction Cell Islamabad had held its first auction of 3Q on 11th of January FY17-18 and generated Rs40.639m through a public auction of impounded vehicles and smuggled items.
The auctioneers deposited 25% amount on the spot out of the total worth of the lots they purchased through auction. The Auction Cell collected a total amount of Rs38.120m by selling the impounded vehicles whereas the Auction Cell earned Rs34.655m through auction of 35 vehicles out of 65 ones and generated Rs3.465m of Income Tax imposed on auctioned vehicles.
The Auction Cell also received Rs2.2m by auctioning off four lots of seized goods while it collected Rs0.229m as Income Tax from said auctioned goods. The total revenue received through the sale of items was estimated at Rs2.519m.
He told CT that the next auction due to be held on 8th of February FY17-18 will be organized by the Alvi Auctioneers along with the customs staff of the MCC Islamabad under the supervision of Deputy Collector and Assistant Collector Auction according to the Customs Act-1969.
