Saturday , July 20 2019
Breaking News
Home / Islamabad / Auction Cell generates Rs190 million during FY2018-19: AC Rao Fahad
Auction Cell generates Rs190 million during FY2018-19: AC Rao Fahad

Auction Cell generates Rs190 million during FY2018-19: AC Rao Fahad

ISLAMABAD: Collectorate of Customs Auction Cell Assistant Collector Rao Fahad Iqbal has said that the Collectorate has auctioned 224 lots worth Rs190 million during financial year 2018-19.

Talking with Customs Today, Fao Fahad said that the Collectorate followed the government rules for conducting public auction of seized smuggled goods to maintain transparency. The auction rules of Customs Act 1969 also provides full authorization to the auctioneer to examine the lots of goods carefully before buying them.

He said that the Collectorate’s  auction cell conducted dozens of auctions under the supervision of Collector Seema Raza Bokhari and generated handsome amount of revenue for national exchequer. He said that during Fiscal Year 2018-19 the auction cell received Rs190 million including duty and taxes while sold 224 out of 244 numbers of lots including various types of foreign origin seized smuggled goods and vehicles.

He said that during previous financial year 20117-18, the Auction cell had earned Rs 199.7 million while conducting 2 auctions per month and sold 241 lots of smuggled seized goods out of 246 numbers of lots. He added that Auction Cell also conducted auction of Prime Minister House vehicles those were surrendered to the MCC Islamabad. At least 25 out of 49 vehicles have been auctioned on very good price whereas 24 vehicles will be presented of auction on 27th June 2019 at Islamabad Dry Port.