Chattogram Custom revenue sees 23.09% growth in 4 months

The country's largest customs station, Chattogram Custom House, has seen steady growth in the first four months of the current fiscal year. 

The revenue collection has increased by 23.09% compared to the same period of the last fiscal year after imports became normal overcoming the pandemic crisis, according to Chattogram Custom House data.

The revenue growth was 3.05% in July, 35.09% in August, 34.01% in September and 22.28% in October.

In the four months from July to October of the 2020-21 fiscal year, Tk14,245.73 crore revenue was collected against a target of Tk19,757.40 crore. The collection deficit was 27.90% less than the target.

During the period of the current fiscal year, Tk17,651.91 crore revenue was collected against a target of Tk20,164 crore. The collection deficit was 12.46% less than the target.

Compared to the last financial year, the collection deficit has decreased by 55.35% in the current financial year.

The Chattogram Custom House achieved a 3.5% growth in July of the current financial year, despite various adversities throughout the month including strict lockdown, natural calamities, Eid-ul-Azha holidays and closure of all types of factories at the end of the month.

In June of the last fiscal year, a record revenue of Tk6,743.9 crore was collected.

Chattogram Customs House Commissioner Mohammad Fakhrul Alam said, "The rate of revenue collection increases if the volume of imports increases. In July of the current fiscal year, the revenue collection was slightly reduced due to the Eid holidays and lockdown. Despite the adversities, a 3.5% growth was achieved. The revenue growth in the next three months is very positive. All stakeholders need to work sincerely to continue this growth."

Mahbubul Alam, president of the Chattogram Chamber of Commerce and Industry, told The Business Standard, "The country's trade has gained momentum recovering from the impact of the corona pandemic. The volume of imports has increased as compared to the last financial year, returning almost to the pre-pandemic level. As a result, the revenue collection of Chattogram Custom House has increased."

In the last 2020-21 fiscal year, the Chattogram Custom House collected Tk51,576.96 crore revenue against a target of Tk64,303.60 crore. It was the highest revenue collection of Chattogram Customs, securing a 23.23% growth.