Ctg customs Jul-Nov revenue jumps 9% but misses target

Chattogram customs house, the country's largest revenue-collecting entity, posted a 9 percent year-on-year rise in revenue in the first five months of the current fiscal year, but still fell short of its target.

The house collected Tk 31,602 crore in revenue during the period, up from Tk 29,001 crore in the corresponding months of the previous fiscal year, according to official data.

Despite the increase, revenue collection was 13 percent below the target of Tk 36,260 crore set for the period.

Officials attributed the shortfall to reduced imports of certain goods and the impact of government duty exemption policies, which limited revenue growth.

Data showed that imports rose sharply during the period, increasing by 63.97 lakh tonnes, or 18.47 percent year-on-year.

According to the National Board of Revenue (NBR), total imports during the first five months of the current fiscal year stood at 4.10 crore tonnes of goods worth Tk 2.22 lakh crore, up from 3.46 crore tonnes valued at Tk 1.97 lakh crore a year earlier.

NBR data also showed that around 4,500 types of products are imported through the Chattogram customs house. Nearly 45 percent of total customs revenue comes from just 30 key items, including diesel, palm oil, coal, apples, grapes, oranges, dates, crushed stone, cement clinker, steel products, and powdered milk.

Mohammad Tafsir Uddin Bhuyan, additional commissioner of the Chattogram customs house, said higher imports of food items ahead of Ramadan helped boost revenue collection.

Besides, stricter monitoring to curb import irregularities and quicker completion of auction procedures also contributed to the increase.

"We are hopeful of achieving our revenue target if this momentum continues over the remaining months of the fiscal year," he told The Daily Star.

Bhuyan also said several measures have been taken to boost revenue collection, including preparing a list of importers and clearing and forwarding agents previously found to be evading taxes in order to intensify scrutiny of their consignments.

"If these plans are implemented properly, the Chattogram customs house will be able to meet its annual revenue target," he added.