Chattogram Customs House has not met its revenue collection target for the first ten months of FY23, with a decline in imports being cited as one of the primary factors.
The customs house had set a revenue collection target of Tk 626.47 billion for the first ten months of FY23, while the overall target for the current fiscal year stands at Tk 742.06 billion.
During the initial ten months of FY2022-23, the customs house only managed to collect approximately Tk 488.15 billion. In comparison, in the same period of the previous fiscal year (2021-22), revenue collection amounted to Tk 486.00 billion.
The Chattogram customs also fell short of meeting its annual collection target in the previous fiscal year. It collected Tk 591.60 billion, which was lower than the targeted Tk 641.60 billion.
A decrease in the import of luxury goods such as cars, cosmetics, and electronics, which generate higher revenue, has contributed to the overall decrease in revenue collection.
The Chattogram Custom House is responsible for collecting duties on imported goods passing through the Chittagong Sea Port, which handles 92 percent of the country’s import and export trade. Furthermore, it also collects duties on goods arriving via Shah Amanat International Airport in Chattogram.
