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Appraisement-West liquidates bank guarantee worth Rs 54m against Suzuki Motors

Appraisement-West liquidates bank guarantee worth Rs 54m against Suzuki Motors

 

KARACHI: The Model Customs Collectorate of Appraisement-West has liquidated/encashed bank guarantee worth Rs 54.27 million against Pak Suzuki Motors Company in the Special Customs Appeal Court No 25 through Bond No 38617, it is learnt.

Sources informed Customs Today that the Sindh High Court (SHC) nazir issued the order to encash the bank guarantee against Pak Suzuki Motors Company Limited.

Sources also said the authorities concerned of the collectorate have taken the step while following the orders of Appraisement-West Collector Muhammad Saleem.

The Pak Suzuki Motors Company Limited has already taken a stay order from the court in this regard.

The SHC has already refused to entertain the company and dismissed its application on legal grounds.

The Appraisement-West had demanded additional Rs 55 million from the company for importing auto parts in excess and claiming undue tax exemption under the government’s deletion programme.

Later, the Suzuki Motor Company approached the Customs, Excise and Sales Tax Appellate Tribunal, which dismissed its appeal and eventually the company challenged the judgement in the Sindh High Court.

During the hearing, the SHC observed that the company was liable to pay the customs duty on the excess quantity of bearings, which was neither declared and was admittedly beyond the approved deletion programme in respect of such imports.

The automobile companies have criticised the deletion programme primarily because of the leniency and inefficiency of Engineering Development Board (EDB) while the programme was introduced by the government to promote indigenisation.

The sources said that Collector Saleem has lauded the efforts of the authorities concerned to pursue the case and save the national exchequer.