ISLAMABAD: The Customs Auction Cell of the Model Customs Collectorate (MCC) Islamabad generated Rs19.577million through public auction of impounded vehicles and smuggling goods during the 1st Quarter (July to September) Financial Year (FY) 2017-18.
According to details given by Majid Hussain Gadd, Assistant Collector Auction Cell Islamabad that, during 1st Quarter FY17-18, the Auction Cell held two public auctions of seized goods. Both auctions were held during the month of September FY17-18.
He said both auctions were planned after his joining as Assistant Collector, Auction Cell, in the month of September FY17-18. Gadd told CT that, during the first auction held on 13th of September FY17-18, the Customs Auction Cell earned Rs16.877million through public auction of impounded vehicles and smuggling goods.
During the 2nd auction held on 26th of September FY17-18, the Auction Cell collected Rs2.7million of revenue. He told CT that a limited number of bidders participated in the 2nd auction due to hearing of ousted Prime Minister Nawaz Sharif at the tribunal.
Both auctions were organized by the Alvi Auctioneers along with the customs staff of the MCC Islamabad under the supervision of Assistant Collector Auction Cell following the Customs Act-1969 with transparent manners.
Majid Hussain said the standard procedures were followed in the auction process and the auctioneers deposited 25% on the spot out of total worth of a lot they purchased through auction.
