Ctg customs sees 42.5% growth in July revenues
Economy
The Chattogram Custom House has registered a 42.56% growth in revenue for July, the first month of fiscal year 2022-2023, relative to the same time last fiscal year, amid a volatile dollar market and other global crises caused by the ongoing Russia-Ukraine war.
It collected some Tk4,839 crore in July, which is also around 8% higher than the Tk4,482 crore target set for the month this fiscal year.
In the corresponding month of the previous fiscal (FY22), the House collected some Tk3,395 crore in revenues.
"The Chattogram Custom has started the new fiscal year with a 42.56% growth in July relative to July of the last fiscal year. It is obviously great news for the country's economy," Joint Commissioner of the house, Salahuddin Rizvi, told The Business Standard.
Following a proper Harmonised System (HS) of codes and collecting duties based on product values were the key drivers of the growth, he added.
Salahuddin Rizvi hopes the growth trend will also continue in the coming days of this fiscal year.
The Custom House collected some Tk59,160 crore in revenue in the previous fiscal (FY22). The target for the ongoing fiscal has been set at Tk74,206 crore.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.