GILGIT-BALTISTAN: The customs staff of the Model Customs Collectorate Gilgit Baltistan (MCC GB) Pak-China Border’s Dry Port Sost has been working during the Eid holidays 24/7. The Sost earned Rs215.590million during initial 20 days (1st to 20th) of June’s Financial Year (FY2016-17).
According to Assistant Collector MCC GB Akbar Jan, Pak-China Sost border collected Rs107.017million during above said period under the head of Customs Duty (CD).
During 1st to 20th of June FY2016-17, the MCC-GB earned Rs15.230million of Regulatory Duty (RD) and received Rs0.716million of Redemption Duty (RD). During said period, the GB generated Rs122.963million Customs Duty. During above said period, the GB got Rs32.754million of ST during 1st to 20th of June FY2016-17. During said period, the GB earned Rs9.515million of Additional Income Tax (AIT).
During above said period, the MCC-GB received Rs215.590million All Duty Taxes during 1st to 29th of June FY16-17. During above said period, the collectorate performed well as it earned Rs2453.541million during July to May of Financial Year FY2016-17. The collectorate was assigned with collection of Rs104million of All Duty Taxes for June FY16-17 but the GB earned more revenue to compensate the shortfall of North Region. Few days back, Sost dry port’s working has been slow due to visa issues from Chinese side.
During June’s season, the import of apple has been high due to seal of Torkham and Chaman borders. During the current month, most of imports came from China through Sost border which comprised heavy machineries and parts and food items for Chinese workers who are working in our country on different projects.
The federal government has released the allocated funds of Rs21.625million in the budget of FY2017-18 for construction of boundary wall around customs land at Chimash Das Gilgit. The government also earmarked the funds of Rs23.100million for PC-11 designed consultancy services for Model Customs Collectorate Gilgit-Baltistan while the federal government also approved Rs57.00million for purchase of land for establishing a trade centre at Gilgit for CECP Trade Facilitation.
During 11 months of current Financial Year (July to May) 2016-17, the GB collected Rs2453.541million of All Duty Taxes while it did Rs975.329million of Customs Duty (CD). It generated Rs160.706million of Regulatory Duty (RD). The GB collected Rs7.375million of Redemption Duty on Imports (RD Imp), did Rs815.389million and received Rs367.388millions during July to May 2016-17.
He said the GB got Rs264.708million of All Duty Taxes during May of Financial Year 2016-17. During said period (May 16-17), the performance was satisfactory. During said period, the GB collected Rs92.144million of CD whereas it did Rs32.855million of RD and it earned Rs1.272million of Redemption Fine.
During above said period, the GB received Rs126.271million of total CD. The Assistant Collector told CT that the GB earned Rs83.130million of ST while it did Rs14.677million of Additional ST. The GB collected Rs97.807million of total ST whereas it did Rs40.630million of Income Tax.