The NBR set a revenue target of Tk177.84 crore for the first eight months of the current fiscal year. However, the port only managed to collect Tk138.27 crore against the revenue target
Hili port earned Tk138.27 crore, around Tk39.57 crore less than the target set by the National Board of Revenue (NBR) for July 2018 to February 2019 of the current fiscal year.
The NBR set a revenue target of Tk177.84 crore for the first eight months of the current fiscal year. However, the port only managed to collect Tk138.27 crore against the revenue target.
According to Hili land port customs station, the NBR set Tk269.31 crore as their revenue target for the port for the entire current fiscal year.
In 2018, for July, the port’s earnings were at Tk4.5 crore against a target of Tk25.3 crore. In August the port earned Tk17.10 crore against a target of Tk15.21 crore, in September, Tk19.71 crore against a targeted Tk9.38 crore, in October Tk10 core against Tk16.16 crore as a target, in November, Tk14.69 crore against a Tk26.49 crore target, and in December the earnings were at Tk10.13 crore against a target of Tk49.64 crore.
For this year, the NBR collected Tk23.61 crore against a Tk23.63 target in January, and in February, Tk19.89 crore against a target of Tk31.39 crore.
Harun Ur Rashid, president of Importer-Exporter Group at Hili land port, said various complications plaguing the land port are preventing the NBR from reaching their desired revenue targets, complications that include bureaucratic difficulties in importing goods, differentiating duty-free goods from commercial goods, and more.
“Goods are often released at other ports of the country for comparatively lower tariff, but in Hili the duty is high, not to mention additional taxes on goods” he added.
Harun said that previously items like dried fish, various motor parts, and other accessories were imported from India using the Hili land port, but over-taxation of such items has dampened their import through this port.
If these complications can be addressed, and policies can be formulated to ease the import process, then import volume and tax revenue will rise again, he said.
Hili port’s assistant customs officer, Abdullah Al Mamun, said revenues have missed their eight month target by a shortfall of Tk39.57 crore, which is 22% less than the NBR target of Tk177.84 crore.
He also said the overdependence on import items such as onions, which is duty-free, is preventing them from growing their tariff earnings.
Abdullah also blamed the target shortfall on the renovation of the Farakka Dam, which has adversely affected stone imports from India, a huge source of revenue.
He felt the revenue target for fiscal year 2018-19, would hopefully be met in the coming days.