ISLAMABAD: Pakistan Customs once again showed a tremendous performance despite all the challenges and achieved the assigned Customs Duty target for the Financial Year 2016-17.
According to official figures of the Federal Board of Revenue, Pakistan Customs, under the supervision of Member Customs Muhammad Zahid Khokhar, has collected Rs496billion record revenue during Financial Year 2016-17 against the allocated revenue target of Rs461billion which is 23 percent higher than the corresponding FY2015-16.
During Financial Year 2015-16, Pakistan Customs collected Rs404billion of Customs Duty. This is the highest revenue collection in the history of the Federal Board of Revenue regarding the Customs Duty. Customs Today learnt that only Pakistan Customs has achieved its set annual revenue targets during Financial Year FY2016-17.
Federal Finance Minister Senator Muhammad Ishaq Dar and Chairman FBR Tariq Mehmood Pasha have lauded the performance of Pakistan Customs and especially praised the performance of Member Customs Muhammad Zahid Khokhar. According to FBR sources, it is expected that, during current financial year, Pakistan Customs will also be able to achieve the set annual revenue targets which is likely to be 18 percent higher than previous year.
It is important to mention here that the Federal Board of Revenue’s overall tax revenue collection has increased around seven to eight percent during Financial Year 2016-17 as compared to Financial Year 2015-16, which is a positive sign regarding the growth in tax collection.
