January 25, 2006	Wednesday	Zilhaj 24, 1426

ISLAMABAD, Jan 24: The Central Board of Revenue (CBR) raised Rs30.1 billion customs duty on import of four kinds of items out of the total collection of Rs61.5 billion during the first half of the current fiscal year.

The net customs duty collection during July-Dec 2005 stood at Rs61.5 billion as compared to Rs51.4 billion in the same period last year, showing a growth of 20 per cent.

Official figures released by the CBR at the customs quarterly conference here on Tuesday indicated that major revenue spinners in the first half (July-Dec 2005) were vehicles (Rs15.6 billion), fats and oils (Rs8.11 billion), iron and steel (Rs3.69 billion) and plastic and its articles (Rs2.7 billion).

The growth in case of vehicles was 179 per cent, textile fabrics/yarn 10 per cent, agriculture machinery 45 per cent and pant and machinery 38 per cent, PTA 10 per cent, chip 13 per cent and warm clothing 116 per cent during the first six months of the current fiscal year over the same period of last year.

The statistics showed that the gross collection under customs duty in the first half of current financial year was Rs71.3 billion as compared to Rs58.8 billion in the corresponding period last financial year, indicating an increase of 21.3 per cent.

Refunds/rebate paid to exporters during the period under review were Rs10 billion as compared to Rs7.5 billion last year, indicating a growth of 33 per cent. Similarly, the customs duty (gross) collection in the second quarter (Oct-Dec) of the current fiscal year stood at Rs32.85 billion as compared to Rs28.79 billion in the corresponding period last year, showing an increase of 14 per cent.