June 04, 2006	Sunday	Jumadi-ul-Awwal 7, 1427

KARACHI, June 3: The Customs Collectorate (Appraisement), Karachi achieved 14.23pc growth in revenue collection at Rs126.592bn during the July-May period of the current fiscal compared to Rs110.820bn the same period last year.

Official figures released here on Saturday showed that the increase in collection was owing to larger volume of imports and smooth working of the Collectorate.

The country’s imports were expected to touch $28 billion by fiscal end on June 30, 2006, and the revenue collection at customs stage was also likely to touch record level.

The collection of customs duty rose by 19.11pc to Rs59.763 billion during the period under review as against Rs50.174 billion the same period last year. Sales tax collection at customs stage increased 10.16 per cent to Rs52.769bn compared to Rs47.9bn the previous year.

Similarly, the collection of income tax grew by 9.85 per cent to Rs13.393bn from Rs12.192 billion over the same period last year. The Federal Excise duty (FED) jumped by 20.27pc to Rs666.18 million from Rs553.88 million the same period last year.

The collectorate raised record Rs13.313 billion during May 2006, which was 42.48pc higher compared to Rs9.343bn collected the same month last year.

The further break-up showed that customs duty collection in May 2006 rose 41.10pc to Rs5.916 million as against the Rs4.193 million; sales tax collection up by 43.13pc to Rs5.912 million as against Rs4.131 million; and the federal excise duty rose by 64.57pc to Rs82.22 million as against Rs49.96 million over the same month last year.