Customs agents urge Chattogram Port to reconsider quadruple store rent hike

The Chattogram Port Authority has implemented a fourfold increase in-store rent starting from 10 March for containers remaining at the port beyond four days after unloading. The decision aims to prevent an artificial market crisis during Ramadan.

However, the Chattogram Customs Agents Association has urged the port authority to reconsider the move. 

Yesterday (13 March), the association's President S M Saiful Alam, and Secretary General Md Showkat Ali formally appealed to the Chairman of the Chattogram Port Authority in a written letter.

According to the Chattogram Port Authority, after the four-day free period, a 20-foot container is charged $6 per day for the first seven days, while a 40-foot container incurs $12. These rates increase progressively, reaching $24 for a 20-foot container and $48 for a 40-foot container in the third week. 

Now, with the newly imposed quadruple fee, importers must pay between $24 and $96 per day for a 20-foot container and $48 to $192 per day for a 40-foot container if storage exceeds the free period.

Md Showkat Ali told TBS that completing customs formalities and other necessary procedures within four days during Ramadan is impractical. He argued that imposing a quadruple store rent is unrealistic and will lead to increased prices of imported goods, ultimately putting financial pressure on consumers.

In their letter, the Customs Agents Association acknowledged the port authority's intention to ensure uninterrupted port and inland container depot (ICD) operations. However, they emphasized that given the current business downturn, the decision should be reconsidered. 

The association warned that the increased charges could discourage importers from clearing their goods, potentially disrupting import activities and causing supply shortages in the market. Additionally, the added cost burden may lead to inflation, impacting consumers directly.

The letter stressed that maintaining market stability during Ramadan is crucial and urged the port authority to revoke the fourfold store rent increase on imported full container load (FCL) containers in the public interest.

Chattogram Port's yard capacity is 53,518 containers, with an optimal operational capacity of 30,000 to 35,000 twenty-foot equivalent units (TEUs). As of 13 March, the yard held 29,478 TEUs, indicating that the port is operating within its manageable limits.