Ctg Customs’ new revenue target Tk74,206cr for FY23

The National Board of Revenue (NBR) recently set a new revenue target of Tk74,206 crore for Chattogram Custom House for the fiscal 2022-23.

Chattogram Custom House, the largest revenue station of Bangladesh, earned Tk59,256 crore in revenues in FY2021-22 against a target of Tk64,075 crore.

The new fiscal target is Tk10,131 crore more – about 14% higher – than the previous fiscal year, which saw nearly 15% growth in revenue collection year-on-year. 

According to the customs house authorities, revenue collected in FY2020-21 was Tk51,576 crore.

M Fakhrul Alam, commissioner of Chattogram Custom House, told The Business Standard (TBS) that achieving the new target was not impossible if the country's import-export trades were normal. 

If the outstanding revenues of Tk3,884 crore for the previous fiscal year can be realised, the revenue collection target of  FY2021-2022 could be fulfilled with a growth rate of 22.42%, he added.

Of the total outstanding amount, Petrobangla has a pending amount of Tk3,699 crore, Padma Oil Company Tk116.73 crore, Meghna Petroleum Tk28.40 crore, Standard Asiatic Oil Tk57 lakh, Summit LNG Tk5.11 crore, Accelerate Energy Tk13 lakh and Bangladesh Police Tk34.21 crore.