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Appraisement East registers 48% growth in 1H with Rs214.96b collection

Appraisement East registers 48% growth in 1H with Rs214.96b collection

KARACHI: The Customs Appraisement East has registered a growth of over 48 percent during July-December 2017 owing to large import bill and imposition of regulatory duty.

According to provisional figures, the collectorate collected Rs214.96 billion during the first half of the current fiscal year as compared with Rs144.79 billion in the corresponding half of the last fiscal year, posting 48.45 percent growth.

The overall collection of two main collectorates in Karachi – MCC Appraisement East and West, the major revenue collectors of the country – jointly collected Rs353.53 billion during the first six months of the current fiscal year as compared with Rs293.55 billion in the corresponding months of the last fiscal year, posting 20.25 percent growth.

The growth in duty and taxes was offset by the fall in revenue collection by Appraisement-West to Rs135.57 billion from the previous figures of Rs149.18 billion, posting a decline of 9.12 percent.

Customs sources said the fall in revenue collection of Appraisement West was due to jurisdictional changes. The overall revenue growth, however, was attributed to rising imports bill and imposition of regulatory duty.

According to data released by Pakistan Bureau of Statistics (PBS), the import bill increased by 21.12 percent to $24.06 billion during July-November 2017 from $19.86 billion in the corresponding of the last fiscal year.