Chattogram Customs House, the country’s largest revenue-collecting entity, posted a 9 per cent year-on-year increase in revenue in the first five months of the current fiscal year, though collections remained well short of the target, official data showed.
The customs house collected Tk31,602 crore during the period, up from Tk29,001 crore in the same months of the previous fiscal year. Despite the growth, the outturn was 13 per cent below the Tk36,260 crore target set for the period.
Officials attributed the shortfall mainly to reduced imports of certain goods and the impact of government duty exemption policies, which limited overall revenue growth.
Import volumes, however, rose sharply. Data showed imports increased by 63.97 lakh tonnes, or 18.47 per cent, year on year during the five-month period.
According to the National Board of Revenue, total imports in the first five months of the current fiscal year stood at 4.10 crore tonnes of goods valued at Tk2.22 lakh crore, compared with 3.46 crore tonnes worth Tk1.97 lakh crore a year earlier.
NBR data also showed that around 4,500 types of products are imported through Chattogram Customs House. Nearly 45 per cent 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 Chattogram Customs House, said higher imports of food items ahead of Ramadan helped support revenue collection during the period.
He added that stricter monitoring to curb import irregularities and quicker completion of auction procedures also contributed to the year-on-year increase.
Bhuyan said the customs house was hopeful of meeting its revenue target if the current momentum continues over the remaining months of the fiscal year.
He also said several measures have been taken to boost collections, including preparing a list of importers and clearing and forwarding agents previously found to be evading taxes, with the aim of intensifying scrutiny of their consignments.
If the plans are implemented properly, he said, Chattogram Customs House will be able to meet its annual revenue target.
