ISLAMABAD: On the directives of the Federal Tax Ombudsman (FTO), the Federal Board of Revenue (FBR) has disposed of 2747 consignments of goods including vehicles through public auction resulting in recovery of Rs8 billion.

Federal Tax Ombudsman, vide his landmark decision in an Own Motion Investigation in case No.01/OM/2024, issued Findings/ Recommen-dations dated 29.05.2024, to the FBR regarding early disposal through public auction of large quantity of confiscated or other goods ripe for auction and vehicles laying un-disposed at Customs formations all over the country, involving stuck up revenue of billions of rupees.

In pursuance of Recommendations of FTO Office, the Department of Customs catalyzed and enhanced the number of public auctions after getting the revised reserved prices which were earlier put to auction for 53 times.

Copyright Business Recorder, 2024