MULTAN: Collectorate of Customs Enforcement has demonstrated commendable revenue collection, totaling nearly Rs62.77 million during the month of March.
Notably, Customs duty contributed significantly, amounting to around Rs59.45 million against a set target of Rs600 million for the month. This performance contrasts with the previous period’s collection of approximately Rs39 million.
Challenges were encountered in March 2023, where only 10.74% of the allocated revenue task was achieved, attributed to an escalated task set by the Member Customs. However, there was a notable improvement in March 2023-24, with around Rs1.28 million collected under Sales tax, albeit lower than the previous period’s Rs4.95 million.
During March 2023, Multan Customs also garnered approximately Rs1.94 million in Income taxes. Strategic measures were implemented to augment revenue, including administrative actions such as auctions, anti-smuggling endeavors, and the depositing of seized currency into the National Bank of Pakistan.
Recognizing the need for practical revenue tasks, the Collectorate has requested a review for the financial year 2023-24.
Significant revenue was generated in March, with nearly Rs6.88 million from redemption fines and approximately Rs51.88 million from auctions of confiscated goods and vehicles.
The enforcement efforts aim not only to expedite trade but also to streamline customs processes, with initiatives like establishing a Trade Facilitation desk to combat smuggling and boost revenue.
Furthermore, various facilitation measures were introduced during FY 2023-24, including the implementation of the Currency Declaration System at Multan International Airport, enhancing the experience for foreign travelers while contributing to revenue generation.
