Asim Ahmad, the head of the Federal Board of Revenue (FBR), presided over a gathering of customs collectors on Friday in Karachi. He instructed them to concentrate on anti-smuggling policies and the undervaluation of imported commodities.
The FBR Chairman was given thorough presentations by the Chief Collectors and Customs Collectors. According to sources, the chairman gave instructions to guarantee the correct collection of all taxes, including sales tax, regulatory duties, regulatory duties, customs duties, and withholding taxes on the import of luxury and non-essential commodities.
The chairman stated that customs officials at borders should prioritise enforcement actions to prevent smuggling. According to sources, the Customs would increase its import revenue collection by thoroughly examining any undervaluation of imported items.
Customs officials briefed the FBR chairman on revenue collection, anti-smuggling initiatives, and arrears recovery.
It is important to note that during 2021–2022, ten major industries—including petroleum products, automobiles, iron and steel, electrical machinery, machinery and mechanical appliances, edible oil, plastic resins, tea and coffee, paper and paperboards, and oil seeds and oleaginous fruit—contributed to nearly 71% of customs duty collection.
Only the collection for electrical machinery among these industries had negative development. According to FBR data, the amount of import duty collected from petroleum goods climbed by 172.2%, from cars by 73.4%, and from paper & paper board by 28.7%.