Ctg Customs bags huge revenue, still misses the target

Chattogram Correspondent

The Chattogram Customs House has collected Tk 43,500 crore in revenue during the last fiscal, 2018-19, although the target was Tk 57,462 crore. The authority concerned said that even though there is a shortage of around Tk 14,000 crore in revenue collection, however, 5 percent growth has been achieved. In fiscal 2017-18, the revenue collection target was Tk 44,677 crore and the collection was TK 42,344 crore.

Sources familiar with the customs authority cited several reasons for the shortfall, including a drop in the import of some 50 products, deferred payments by government bodies, duty cut for goods eligible for customs procedure codes, and lawsuits. Besides, there were some seasonal reasons, including election year, disasters like cyclone Fani, decrease in import of some high revenue earning finished products like cars for the shortfall.

Fakrul Alam, Commissioner of Chattogram Customs House said, “The average growth of revenue collection from import and export items through Chattogram Port was 10-12 percent. Last year, we achieved about five percent growth but due to low import of goods the revenue collection was less than the target.”
Chattogram Customs House is at its height of revenue collection, which remained at around 28-30 percent of the country’s total revenue.

In FY2018-19, the total revenue income has been estimated at Tk 3,39,280 crore, of which Chattogram Customs House’s target was Tk 57,462 crore. In addition to the Chattogram Customs House, there are two more revenue gateways - Inland Container Depot (ICD) of Kamalapur and Pangao Container Terminal.

In the first half of the fiscal, June- December (2017-18), Tk 21,358 crore was collected against the goal of Tk 27,724 crore, meaning they were behind by Tk 6,366 crore. This trend continued for the rest of the year, according to the National Board of Revenue. In fiscal 2018-19, the Chattogram Port has handled 29,19,023 containers.