Karachi, November 6, 2023 – Pakistan Customs has received authorization to offer confiscated and seized goods at a substantial 50 percent discount to the Utility Stores Corporation (USC).
This significant move is expected to benefit consumers across the country while aiding the Utility Stores Corporation in providing essential commodities to the public.
The Federal Board of Revenue (FBR) took a pivotal step in facilitating this process by issuing a notification on Monday to amend Customs General Order No. 12 of 2002, which was originally dated June 15, 2002. This decision is set to have a notable impact on the distribution of essential goods in the market.
According to the notification, the amendment specifically addresses the sale and disposal of seized or confiscated essential commodities as defined in sub-clause (iv) of clause (s) of section 2 and entry in column (2) against clause (i) of S.No. 8 in column (1) of the Table under sub-section (I) of section 156 of the Customs Act, 1969 (IV of 1969). This notification, which was initially made effective through SRO 495(1)/2023 dated 14.04.2023, paves the way for a unique mechanism for the disposal of such goods.
Under the newly amended provision, the Collector/Director with jurisdiction may choose to dispose of the seized or confiscated essential commodities by initially offering them to the Utility Stores Corporation (USC) at a remarkable 50 percent discount from the minimum prices as notified by the provincial governments. This measure aims to enhance the accessibility of vital goods to the general public at highly affordable rates.
In the event that the Utility Stores Corporation (USC) does not express interest in acquiring the confiscated or seized goods, the notification states that these items will then be auctioned off in adherence to the Customs Auction Rules, 2001, which were originally notified through SRO 450(1)/2001 dated 18.06.2001. This provision ensures that the goods find their way to the public through an alternative avenue if the USC declines the offer.
This move by Pakistan Customs and the Federal Board of Revenue is poised to make essential goods more affordable and readily available to the public. It will not only alleviate the burden on consumers but also support the Utility Stores Corporation in its mission to provide essential commodities to the masses. This initiative represents a significant step in enhancing public welfare and is likely to be well-received by consumers across the country.
