GILGIT-BALTISTAN: The Model Customs Collectorate Gilgit-Baltistan (GB) earned Rs2453.541million during July to May of Financial Year FY2016-17. The collectorate has been assigned Rs104millions of all duty taxes for June FY16-17 but GB has earned more revenue to meet the shortfall of North Region. Few days back, Sost dry port’s working has been slow due to visa issues from Chinese side.
This was stated by Assistant Collector GB Akbar Jan while giving an exclusive interview to Customs Today.
During the last few days, GB dry port Sost was functioning slowly because of Chinese visa processing but now again imports have become normal and GB is excepting handsome amount on imports during the month of June FY16-17. During this season, the import of apple was 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 machinery and parts and food items for Chinese workers who are working in our country on different projects.
He told Customs Today that the federal government has released allocated funds of Rs21.625million in the budget of FY17-18 for construction of boundary wall around customs land at Chimash Das Gilgit. He said the government also allocated funds of Rs23.100million for PC-ii 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.
He added that some other important projects for development of collectorate of GB are in the pipeline which the Chief Collector North is personally pursuing. Sooner or later, funds will be allocated as they are important projects to earn more revenue and promote bona fide trade.
During 11 months of current Financial Year (July to May) 2016-17, the GB collected Rs2453.541million of All Duty Taxes whiles it did Rs975.329million of Customs Duty (CD). It generated Rs160.706million of Regulatory Duty (RD), he added. The GB collected Rs7.375million of Redemption Duty on Imports (RD Imp), did Rs815.389million and received Rs367.388millions during July to May 16-17, he informed.
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, he said.
During above said period, the GB generated Rs126.271million of total CD.
The Assistant Collector told CT that the GB got 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.
