Customs earns P837M from confiscated goods sale

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Customs earns P837M from confiscated goods sale
The raised amount constitutes around 95% of the total Customs auction revenue for 2014

MANILA, Philippines – Sale of forfeited, imported goods from the government’s public auctions totaled P837 million ($18.90 million) – around 95% of the 2014 P885 million ($19.98 million) auction revenue of the Bureau of Customs (BOC), the bureau reported Friday, April 17.

BOC-Port of Manila’s 6 public auctions generated sale amounting to P257 million ($5.80 million) or 150% over its revenue target of P103 million ($2.33 million). Contributing to the revenue was the auction of about 109,500 sacks of rice in October, which earned P161 million ($3.64 million) for the collection district.

BOC-Manila International Container Port (BOC-MICT) district office, meanwhile, conducted a record 17 public auctions, generating a total of P580 million ($13.10 million) – 346% in excess of its full-year 2014 auction revenue target of P130 million ($2.94 million).

The sale of over 300 container vans of rice in September 2014 earned for BOC-MICT over P393 million (P8.86 million).

Other collection districts which contributed to BOC’s 2014 auction revenue included the Ports of Cebu with P48 million ($1.08 million); Subic with P636,679 ($14,378.48); and Ninoy Aquino International Airport with P43,000 ($971.09).

More auctions to come

Apart from raising revenues for the government, the public auctions of forfeited goods also helped in decongesting the ports, said Customs Commissioner John Sevilla.

“We will continue to expedite the disposition of forfeited shipments in the coming months,” Sevilla said.

Tthe BOC-Port of Cagayan De Oro is slated to auction off on Wednesday, April 22, over 33,000 sacks of seized smuggled rice. Majority of such was seized from the two Cagayan De Oro traders that BOC charged with smuggling cases before the Department of Justice.

The April 22 auction is eyed to generate minimum of P70.5 million ($1.58 million) in revenues for the bureau.

The seized goods will be available for public viewing and pre-bid conference on April 20 and 21, respectively. – Rappler.com

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