SIALKOT: The Model Customs Collectorate auction committee has conducted auction of seized smuggled cloth after permission of Federal Board of Revenue (FBR) and generated revenue of Rs. 1.7 million at the premises of MCC.
According to details, Anti Smuggling Organization (ASO) of MCC has seized smuggled cloth under Kashmir, China and Iran trade transit from GT Road and shifted the same to State Warehouse Sialkot.
The ASO registered the cases of seized cloth and referred the cases before the Adjudication department for proceeding. After conclusion of proceeding of case the court announced judgment in the favor of Customs Department of MCC Sialkot.
The chairman of auction committee Babar Malik told Customs Today that the five parties participated in the bid of auction and two parties gave attracted prices. He said that auction amount will make a cause to strengthen the economy of country.
It is necessary to mention here that Customs Collectorate is already expedited their efforts to generate more revenue to meet the assigned target of current Fiscal Year 2016-17.
