ISLAMABAD: During first 22 days of November Financial Year 2017-18, the Customs North Region has faced a shortfall of Federal Excise Duty (FED) as it earned Rs63million less collection than the assigned revenue collection target of FED during above said period.
The North Region was allocated a Rs84.08million revenue collection target for 22 days of November FY17-18 whereas it generated Rs21.93million under the same head. The North received Rs98million as FED during 22 days of corresponding November FY16-17. The North faced -73.92% of shortfall against a proportional revenue target whereas it faced -88.33% of shortfall against the collection of the same corresponding period.
The official sources of Customs North Region told Customs Today that two out of four stations of North Region named Islamabad and Peshawar Customs collected FED during first 22 days of November FY17-18.
The Collectorate of Islamabad got Rs11million of FED whereas it was earmarked Rs71.00million revenue collection target. Sources added that, during said period, the Islamabad Customs faced a shortfall of Rs61million under the same head.
The Islamabad Collectorate earned Rs88.34million during 22 days of previous November FY16-17 as FED. Sources further added that Islamabad Customs showed Rs.-85.55% decline in collection as FED against an assigned proportional revenue target whereas it showed decline in growth of -88.33% against 22 days of November of corresponding FY16-17.
The sources told CT that, during above initial 22 days of November FY17-18, the Customs Collectorate Peshawar generated Rs11.62million as FED while it was allocated Rs12.74million. During said period, it showed a little decline against an earmarked proportional revenue collection target under the head of FED.
