The Federal Board of Revenue (FBR) will offer Utility Stores Corporation (USC) to purchase the confiscated sugar from the customs department without the process of auction.
However, in case the USC is not interested in purchasing the seized sugar, the item would be auctioned through respective customs collectorates under auction rules.
The FBR amended the Customs General Order No. 12 of 2002 through the Customs General Order (CGO) 3 of 2023 issued on Monday.
The new CGO stated that for the sale/disposal of the seized/confiscated essential commodities, notified vide SRO 495(1)/2023 dated 14.04.2023, the Collector /Director having jurisdiction may dispose of the seized/confiscated essential commodities, in the first instance to Utility Stores Corporation (USC) at 50 percent of the minimum price(s) as notified by the provincial governments.
In case the aforesaid organization is not found interested, the seized/confiscated essential commodities shall be auctioned in accordance with the Customs Auction Rules, 2001 notified vide SRO 450(1)/2001, the CGO concluded.
Source: Pro Pakistani