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Multan Customs to hold auction of petroleum products soon

Multan Customs to hold auction of petroleum products soon

MULTAN: The Customs Collectorate will auction High Speed Diesel lying at Multan Dry Port after completion of necessary procedure.

Assistant Collector Multan Dry Port Muhammad Ikram has intimated oil marketing companies including M/s Attock Petroleum Limited, M/s Byco Petroleum Limited, M/s Admore Gas (Pvt) Limited, M/s Hascol Petroleum Ltd, M/s Pakistan State Oil, M/s Shell Pakistan, M/s Askar Oil Services (Pvt) Ltd and others about disposal of lying High Speed Diesel at CPF ware bonded house near Multan Dry Port through auction. High Speed Diesel required special arrangements for preservation and storage.

Therefore these goods may be disposed of immediately after orders for confiscation from Customs Adjudication and after issuance of ONO customs department issued final notice to the owners for intimation of disposal.

If at any stage, goods are ordered to be released to the lawful claimant, he would get the sale proceeds realized by the department after deducting the duty liability and other liabilities.

Multan Customs decided to dispose of High Speed Diesel of 10,000 liters and POL product (petrol) of 10,000 liters approximately through auction and informed oil marketing companies to participate in the auction for purchasing the said HSD products.

According to law only oil marketing companies are eligible to participate in the bid of HSD products in open auction on 16 August.

Oil Tankers will not be sold along with HSD and petroleum products. Lifting’s and transportation cost of HSD oil will be on the buyers cost and 10 % income tax shall be payable on the offered price of successful bid amount and this amount will be deposited immediately after acceptance of bid. The remaining amount shall be deposited within seven days of acceptance of the bid.

It is pertinent to mention here that Anti-Smuggling Organization has seized said HSD and POL products in their actions few months ago and forwarded seizure cases for trial in Customs Adjudication.