KARACHI, Aug 9: The collectorate of customs (appraisement), Karachi, made collection of Rs93.977 billion in revenue during the outgoing fiscal 2002-03, showing a growth of over 13 per cent over Rs83.042 billion collected a year ago.
Similarly, collection of customs duty made a growth of over 11 per cent at Rs40.680 billion, as against a collection of Rs36.607 billion recorded in the fiscal 2001-02.
The appraisement collectorate for the first time in a period of five years managed to surpass the revised target set for customs duty from Rs36.660 billion to Rs39.998 billion.
According to official figures, in actual terms there had been 11 per cent increase in customs duty collection to Rs40.680 billion in the fiscal 2002-03, as against Rs36.607 billion collected in the fiscal 2001-02.
Initially, the board set a target of Rs36.660 billion for collection of customs duty which was achieved by the collectorate 15 days ahead of the year close (June 30, 2003). As a result of this achievement, the CBR revised the target upward to Rs39.998 billion. Even this target was not only achieved, but also surpassed by Rs682.63 million bringing total collection of customs duty to Rs40.680 billion.
Official sources told Dawn that collection of higher customs duty target set by the CBR was a challenge as the duty rates had been further reduced and the stronger rupee against the dollar meant a reduction in the rupee value of imports.
The revenue collected by appraisement collectorate has been a major contributor to the CBR’s overall achievement in revenue collection during the fiscal 2002-03, because collection of sales tax at import stage also grew by 17 per cent to Rs40.325 billion, as against Rs34.578 billion a year ago.
The appraisement collectorate netted Rs12.058 billion or 7.08 per cent higher on account of income tax at import stage during the outgoing fiscal as compared to Rs11.261 billion recorded last year.
A remarkable growth of 53 per cent was recorded in central excise duty (net) at Rs913 million up to June 30, 2003, as against a collection of Rs596 million in fiscal 2001-02.
Customs sources said that in order to achieve revised target the collectorate had to make a contingency plan and a strategy was immediately undertaken and surmount the task. The major reason of achieving the higher revenue target, the sources said, was a collective effort and team work of the staff.
Secondly, all objections were removed in order to minimize spill-over of the revenue to next year. By doing so, revenue blocked in big cases were promptly recovered. Consequently, the work was taken on ‘war footing’ which assisted in collection of maximum revenue, the sources added.
Despite these measures, the revenue collection in the first month (July) of new fiscal stood higher by around 16 per cent. Total revenue collection during July 2003 stood higher at Rs8.296 billion as compared to the collection of Rs7.171 billion in corresponding period last year. Barring central excise duty, which declined by 53 per cent, collection from customs duty, sales tax and income tax at customs stage rose between 12 and 20 per cent, the sources said.