Sheola Land Port in Beanibazar has missed its revenue target for the first half of the 2024-25 fiscal year, collecting only Tk 200 million out of the Tk 308.6 million target leaving a significant shortfall of Tk 100 million.
Customs officials attribute the missed target to political instability earlier in the fiscal year, which disrupted the assessment and clearance of goods for several days.
They claim the activities of the Audit, Investigation, and Research (AIR) unit have curbed false declarations and minimised opportunities for revenue evasion, affecting overall import volumes.
Workers at the port have a different perspective as they argue that irregularities, particularly weight manipulation during the assessment of goods, have discouraged trade through the port.
Recent allegations of corruption against Customs officials have also triggered labour unrest at the port. Workers claim that weight manipulation is a major issue. For example, stones imported from India are often mixed with soil and sand during loading at the mines.
Previously, port authorities at Tamabil and Sheola deducted the weight of soil and sand before calculating duties. But current Sheola officials are reportedly unwilling to exclude this weight, leading to dissatisfaction among importers.
Over the past six months, Sheola Customs processed imports worth Tk 110 million, including coal, ginger, oranges, apples, Shatkora, limestone, and rice. Customs sources highlighted that January's revenue appears inflated due to the clearance of outstanding dues from the previous month.
They cautioned that a more accurate picture of revenue trends will emerge from August onwards.
Coal importer Iqbal Hossain noted that the rising value of the US dollar has hindered many traders from opening letters of credit (LCs).
Those who managed to do so had to purchase dollars at higher rates in the open market and show 100 per cent margin deposits in banks, leading to reduced import activity.
Sheola Customs Assistant Revenue Officer Shimul Sen remarked, "Revenue targets are increased each year, and we have also seen a corresponding rise in collections. However, meeting targets remains challenging. While this year's target was somewhat achievable, political unrest and reduced imports due to high duties have impacted revenue collection in the first six months of the fiscal year."
Port users said that the challenges at Sheola Land Port reflect broader issues within Bangladesh's customs and trade infrastructure, where balancing enforcement with facilitation remains a critical challenge. —UNB
