KARACHI, May 5: The registration, stamp and evacuee property (RS&EP) wing of the Board of Revenue Sindh made a record collection of over Rs1.835 billion from July 1, 2001 to April 30, 2002.

The collection registered an all-time high increase of Rs237.45 million - an increase of 14.86 per cent under the registration fee and stamp duty head.

Of the total collection, the stamp duty accounted for Rs1.579 billion and the registration fee amounted to Rs255.849 million. The collection of stamp duty rose by 12.35 per cent (Rs 173.498 million). On the registration side, the increase stood at 33.31 per cent which comes to over Rs50 million.

According to the RS&EP wing sources, this increase in collection was achieved due to 20 percent reduction in the valuation table which was granted by the BOR for a period of three months which expired on April 30.

The sources said that a large number of people took advantage of the incentive provided by the government and had their property transaction carried through.

In Karachi alone, the RSEP wing collected Rs1.367 billion as stamp duty out of the total collection of Rs1.597 billion recovered from all over the province - 86.57 per cent.

According to the sources, the inspection of public offices, financial institutions will start from the next financial year under section 73 of the Stamp Act. Under the inspection, the RS&EP staff will check whether or not the documents are duly stamped.—APP