KATHMANDU: Revenue collection in the first five months of the current fiscal year was lower than it was during the same period last year, according to the Dryport Customs Office in Sirsiya, Birgunj. The office's income collection of Rs 19.78 billion only accounted for 32.94% of its yearly target.
Office chief Dhan Bahadur Baruwal said that a decline in foreign product exports was the primary cause of the income decline, which had a big effect on collections. Concerns about achieving the yearly goals have been raised by the decrease in trade activity.
With a total revenue of Rs 4.36 billion, the month of Asoj (September–October) saw the most collection. Nevertheless, the number fell during Mangsir (November–December), when the lowest monthly collection of Rs 3.22 billion was recorded.
The office collected Rs 21.04 billion in the same period in the previous fiscal year, which is a significant decrease from the previous year. This demonstrates the difficulties the customs office faces in sustaining steady revenue growth.
Since meeting the yearly goal appears to be becoming more difficult, the decreased revenue emphasizes the necessity of initiatives to boost trade and address the reasons behind the decline in exports.
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