Customs revenues have soared beyond expectations to a record 102% of targeted collection payments registering the equivalent of 9.8 billion pounds for the fiscal year 2005/2006.

Head of the customs a...

Customs revenues have soared beyond expectations to a record 102% of targeted collection payments registering the equivalent of 9.8 billion pounds for the fiscal year 2005/2006. Head of the customs authority Galal Abul Fetouh has reiterated that customs outlets have achieved an increase over targets in the last fiscal year. Abul Fetouh added that the legislature for the customs law and the consequent facilities including the reduction of release period for goods at outlets to two hours as opposed to 18 days have helped achieve record revenues for his department. Abul Fetouh added that the revenues are part of an economic reform program and the means to activate foreign trade.  The customs authority has seen the implementation of new systems including the risk department and made it possible to release goods across the green line. (source: rose El-youssef)