Ctg custom logs Tk 51,577cr in revenues for first time

Chattogram Customs House posted a 23.23 per cent year-on-year rise in revenue earnings and fetched Tk 51,577 crore in 2020-21 fiscal year.

This was the first time the revenue generated by the customs house, a wing of the National Board of Revenue, shot past the Tk 50,000-crore mark.

The record earnings were the result of strengthening of surveillance to prevent irregularities and the amendment of the Customs Act-1969 in June 2020 that allowed the authorities to fix a minimum fine for the false declaration of imported goods.

Revenue receipts stood at Tk 41,854 crore in 2019-20 fiscal year.

A total of 9.71 crore tonnes of goods worth Tk 331,039 crore were imported in FY21, up from 8.29 crore tonnes worth Tk 293,773 crore in FY20, data from the customs house showed.

Customs officials said the imports of the items went up riding on the increased demand in the energy, power and construction sectors.

They topped the list of the imported goods in the past decade.

Other top revenue-generating products were oranges, cars, car parts, finished ceramics, betel nuts, milk powder, scrap ships, and electronics.