Press briefing of Cabinet Decision taken on 2022-10-03

Amending the Customs Ordinance and the Protection of Government Revenue (Special Provisions) Act, No.1 of 2006

- Approval of the Cabinet has been granted previously to amend the sections 47 and 57 of the Customs Ordinance and section 3 of the Protection of Government Revenue (Special Provisions) Act, No.1 of 2006. Owing to the provisions of section 153 of the Customs Ordinance, the revenue recovered by the Government by distribution of forfeitures and imposing penalties is very low and therefore the Committee on Public Accounts has pointed out the appropriateness of amending the said section. Further, it has been recognized the necessity of stipulating a statutory period of time to conduct investigations on customs cases and conclude such investigations as a trade facilitation measure for importers and exporters. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to take necessary action to further amend the Customs Ordinance and the Protection of Government Revenue Act, introducing appropriate provisions, was approved by the Cabinet.