Tuesday, March 27, 2012

Government earns highest customs on rubber, plastic slippers, shoes, readymade garments

The government has earned the highest customs revenue on rubber, plastic slippers and shoes, and readymade garments in the first eight months of the current fiscal year as compared to the same period last fiscal year.
The customs revenue from rubber, plastic, slippers and shoes, and readymade garments increased by 718.32 per cent and 355.89 per cent, according to finance secretary Krishna Hari Baskota.
However, the government lost the most revenue on electric conductor and sugar among the 10 highest revenue losers, he said, adding that their revenue decreased by 71.47 per cent and 60.58 per cent respectively.
Similarly, the government lost some 54.66 per cent customs revenue on minibus imports, some 54.37 per cent revenue from bus and truck chassis imports and 50.55 per cent revenue from truck and mini truck imports, he added.
Not surprisingly, cooking gas, petrol and High Speed Diesel (HSD) also features among the high revenue payers.
Though the revenue from cooking gas has increased by 33 per cent, HSD by 21 per cent and petrol by 15 per cent in the first eight months of the current fiscal year against the same period last fiscal year, today's price hike will contribute more to the government coffers through the sale of petrol as the state oil monopoly has increased the price of petrol by Rs 4 per litre.
On average, the government has earned some 39 per cent more revenue from the top 10 products at customs as compared to an increase of 35 per cent in the eight months of the last fiscal year, the finance secretary said, adding that the decrease was recorded at 20.29 per cent from the top 10 revenue losers in the eight months of the current fiscal year as compared to the same period of last fiscal year.
The ministry is tightening all the loop holes to increase customs revenue, said Baskota, adding that vigilance at the customs has increased and a 24-hour control room has been set up to curb leakages at customs points.

Top five revenue earners
Rubber, plastic, slippers and shoes
Readymade garments
Stone and coal
Steel wire rod in coil

Top five revenue losers
Electric conductor
Bus and truck chassis
Truck and mini truck


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