MULTAN: Collectorate of Customs Enforcement has reported a collection of approximately Rs.99.338 million under the head of customs duty, sales tax, Income tax, and federal excise duty (FED) for the month of February in the fiscal year 2023-24.
Despite efforts, Multan Customs fell short of its target collection, particularly in customs duty which stood at Rs92.33 million, a significant shortfall from the assigned revenue task of Rs300 million. This shortfall, amounting to only 30 percent of the target, was attributed to an upward revision of revenue targets by the Member Customs.
In Sales taxes, Multan Customs collected Rs.1.075 million during February, a decrease from the Rs.3.58 million collected in the corresponding period. Income taxes fared slightly better with Multan Customs reporting a collection of Rs.5.933 million for February in the ongoing fiscal year.
In addition to regular collections, Multan Customs emphasized administrative measures such as auctions and anti-smuggling efforts, including the crediting of seized currency into the National Bank of Pakistan. The Model of Customs Collectorate Multan has urged a review of revenue targets for the fiscal year 2023-24.
Despite the shortfall in revenue targets, Multan Customs emphasized its commitment to trade facilitation and highlighted measures such as the installation of the Currency Declaration System (CDS) at Multan International Airport to assist foreign travelers.
