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Decline in Import of Petroleum Products, Vehicles Hits Revenue Collection

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Decline in Import of Petroleum Products, Vehicles Hits Revenue Collection
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December 20: Birgunj customs has collected revenue of almost Rs 30 billion in the first five months of the current fiscal year. According to the customs office, a total of Rs 29.77 billion was collected between mid-July to mid-December.

However, the customs office -- which is the main entry point of the country -- could not meet its target of revenue collection during the review period.

Customs officer Ramesh Sukmani informed that they were able to achieve only 84 percent of the target of revenue collection. The Birgunj customs had set a target to collect Rs 35.33 billion in the first five months of the current fiscal year.

During the corresponding period of last fiscal year, this customs office had collected revenue of Rs 38.62 billion. That too was below the target of Rs 52.97 billion.

The customs office informed that the import of petroleum products and vehicles declined in the current fiscal year. As they are the chief import products of the country, a decline in import of those products have had a direct impact on revenue collection.

“The import of vehicles and petroleum products declined compared to last year. This has impacted revenue collection,” said Customs Officer Sukmani.

The customs office informed that the import declined basically due to coronavirus pandemic and the subsequent lockdown. Local importers say that although there has been some improvement in the last two months, the supply chain is yet to return to normal level due to the impact of almost six months of restrictions.

 

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