ISLAMABAD: It has been revealed that the smuggled vehicles seized by the Customs Department, a subsidiary of the Federal Board of Revenue (FBR), are being auctioned at the lowest price fixed for auction.
The Federal Board of Revenue took notice of the auction at a low price. According to a document available to Express, the Legal and Accounting Customs Wing of the Federal Board of Revenue has sent a letter to the FBR stating that for many years, auctioning of smuggled vehicles at prices lower than the reserve price. The problem is being faced and this problem is also being faced in investigations and inquiries in several cases of auctioning of smuggled vehicles.
The letter states that the auction of confiscated smuggled vehicles under the Customs General Order No. 12 issued on June 15, 2002 should be auctioned at or above the auction reserve price and if the contraband to be auctioned In the first and second auctions of the used vehicles, if the bid is not equal to or more than the reserve price, then the concerned Deputy Collector and Assistant Collector may suggest to the concerned collector to reduce the reserve price of these vehicles and the collector after seeing the condition of the vehicle. The reserve may decide to lower the price.
The letter states that due to the inconsistency found in the Customs Rules and the Customs General Order, the Customs General Order No. issued on June 15, 2002 for the auctioning of seized smuggled vehicles to avoid repeated audit objections. Twelve amendments should be made.
