GOVERNMENT more than doubles its revenues in bidding out 1,169 container vans of smuggled rice.
The government would have earned around P400 million in taxes and customs duties from the shipments. With the seizure and sale of the smuggled rice, the government earned P871,457,796.90. The actual sales is P80,057,796.9 higher than the initial offering of the BOC.
The fourth and final bidding of the P1.2 billion worth of smuggled rice seized in the port of Cebu in March and April this year earned the Bureau of Customs (BOC) P60,929,233.30 more than the floor price yesterday.
The floor price for 488 container vans was P324,467,200. It was sold for P385,396,433.30 or 18.7 percent higher.
Edward dela Cuesta, the outgoing district collector said that he is happy that the last public auction succeeded in bringing in 18.7% more than was projected.
“I hope that this would be a closure of the 1.2 billion rice,” he added. The seizure last March and April is one of the biggest hauls of smuggled rice in BOC history.
The BOC conducted four biddings, the first on June 6; the second on August 7; the third on August 22 and the fourth yesterday.
Sued
Meanwhile, the Department of Justice (DOJ) filed charges against Jane B. Mabano, a trader from Cebu, for violating the Customs laws last August 15.
Mabano was allegedly involved in attempting to smuggle 532 vans of rice which is equivalent to P354 million last March. Mabano’s shipment was part of the P1.2 billion smuggled rice haul uncovered by the BOC in Cebu.
On the pilferage of smuggled rice in the Cebu International Port yard, Dela Cuesta said they are still waiting for the results of the investigation conducted by the National Bureau of Investigation.
On Tuesday next week, Ricardo Belmonte, district collector of the Port of Manila will replace Dela Cuesta who will be assigned to the Ninoy Aquino International Airport.