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Rasuwagadhi meets 78% of annual revenue target in 6 months

January 16, 2020

Himnath Devekota, My Republica, January 16, 2020

RASUWA: Rasuwa Customs Office has achieved 78% of revenue target for the current fiscal year in just six months.

According to customs officials, increased imports, tightening of customs valuation and smooth vehicular movement along the Trishuli-Rasuwagadhi road session helped the customs office to make progress in revenue mobilization.

In recent times, both Nepal and China have simplified customs procedures to facilitate bilateral trade. The two countries have agreed to issue temporary entry permits for containers drivers and assistants out of Rasuwa also to ensure smooth movement of trucks and containers. Earlier, China was allowing only drivers and assistants of Rasuwa district to enter China.

The northern customs office collected Rs 7.33 billion over the first six months of FY2019/20.

Punya Bikram Khadka, chief customs officer, told Republica that rise in imports, as well as effective management at the customs office were the major factors behind that contribute to the rise in revenue collection. "We have received support from line agencies," he said, adding: "If we can continue the momentum of revenue mobilization, we can easily cross the annual target."

The customs office had posted revenue growth in the last fiscal year as well.

According to the customs office, it has missed revenue target in only one month so fair in the current fiscal year. "We have mobilized more than the targeted revenue in the five months," said Khadka.

In the sixth month of the current fiscal year, i.e. mid-December to mid-January, the customs collected 77.04% higher than the target. The office mobilized Rs 820.83 million compared to the target of Rs 460.78 million.

The office collected Rs 1.34 billion in the first month, Rs 1.51 billion in the second month and Rs 1.38 billion in the third month of FY2019/20. Similarly, it mobilized Rs 1.47 billion and Rs 1.91 billion, respectively.

The finance ministry has given the office revenue target of Rs 9.35 billion for the current fiscal year. The office had mobilized Rs 10.6 billion in the last fiscal year, up from the targeted Rs 9.5 billion.

The customs office had mobilized revenue of Rs 2.44 billion in FY2015/16. Similarly, it had collected Rs 2.92 billion and Rs 4.59 billion in FY2016/17 and FY2017/18, respectively.

Clothes, apple, electronic gadgets, construction materials, footwear, and eyeglasses and frames were Nepal's major imports through Rasuwagadhi customs office in the first six months of FY2019/20.

Source: https://myrepublica.nagariknetwork.com/news/rasuwagadhi-meets-78-of-annual-revenue-target-in-6-months/