Covid-19: MCC PQ faces Rs 7.51 billion revenue shortfall

Following considerable drop in imports deliveries by 50 percent amid the outbreak of COVID-19 in Pakistan, Model Customs Collectorate (MCC), Port Qasim has witnessed a shortfall of Rs7.51 billion to meet its revenue target of Rs59.135 billion for the month of March.
According to details, the Federal Board of Revenue (FBR) has given the revenue target of Rs59.135 billion for the month of March to MCC Port Qasim. However, the collectorate has collected Rs51.62 billion and remained short from its target by Rs7.51 billion, depicting 14.55 percent decline. The collectorate has showed 15.69 growth as compared to collection of Rs 44.62 billion made during last corresponding month.
The department has collected Rs15.34 billion on account of customs duty, showing 57.68 percent decline from the target of Rs24.2 billion. Similarly, the revenue generated from FED and income tax have also witnessed 3.76 percent and 30.35 percent decline, respectively while sale tax collection showed progress by 8.94 percent in March.