ISLAMABAD: The Customs Auction Cell of Model Customs Collectorate (MCC) Islamabad generated Rs16.877million through public auction of smuggled vehicles and goods on Wednesday (13th September). It was the first public auction offered in Financial Year 2017-18.
Assistant Collector Majid Hussain Gadd told Customs Today that it was a successful auction as it added a handsome amount to the revenue which will help the Islamabad Collectorate to achieve its assigned target for 1st quarter of FY2017-18.
Majid said the people from Rawalpindi, Islamabad and Peshawar participated in the said auction. The auction was organized by the Alvi Auctioneers along with the customs staff of the MCC Islamabad under the supervision of Assistant Collector Majid Hussain Gadd following the Customs Act.
Majid Hussain said the standard procedures were followed in the auction process and the bidders deposited 25% on the spot out of the total values of the lots they purchased through auction. The auction cell collected a total amount of Rs8.06million by auctioning off confiscated items. The total 46 lots of impounded goods were set for auction while 31 lots were sold in the auction.
Assistant Collector of Auction Cell told CT that the Auction Cell generated Rs8.816million through auction of five impounded vehicles out of nine vehicles. It collected Rs0.73million of 10% duties and taxes applied on goods and vehicles sold in the auction while it earned Rs0.801million of duties and taxes applied on vehicles sold in auction.
