MULTAN: The Federal Board of Revenue assigned Rs.660 million revenue collection generation target to the Collectorate from the auction of confiscated vehicles and miscellaneous goods for the economic year 2019-20.
According to the details, Customs Preventive given auction target first time after the formation of Preventive Collectorate. Auction is one of the major source of revenue generation for the Collectorate where Customs offered confiscated vehicles and goods after the legal trial from Customs Adjudication.
The Federal Board of Revenue has assigned enormous revenue task to auction cell of Customs Preventive for the existing economic year 2019-20.Auction Cell will hold regular auction of seized goods and miscellaneous goods every month in order to generate handsome revenue for the Collectorate.
The Collectorate of Customs Preventive assigned Rs55 million monthly revenue generation task from the auction of confiscated vehicles and miscellaneous goods. Sources told Customs today that auction task is not easy for the Multan Customs Collectorate Preventive because the Collectorate was unable to generate Rs.55 million from auction of confiscated vehicles and goods in any months of the corresponding economic year.
Sources told Customs Today that the Collectorate will face difficulties to accomplish desired results in terms of auction due to less items offered in the bid. Multan Customs Collectorate Preventive is also devising strategy to accomplish the desired revenue task of auction.
