Teknaf, Bangladesh: The border trade corridor situated on the banks of the Naf River at Teknaf, which is known as a Teknaf land port, earned Taka over 1,070 million in the Fiscal Year (FY) 2011-2012, according to a customs officer recently said from Teknaf.
“The earnings included tax receipts and customs fees, through the increase of two-way trade between Bangladesh and Burma.”
In 2011-2012 FY, data released by National Board of Revenue (NBR) recently showed that they collected Tk 74,808, 576 in July 2011, Tk 51, 7 51,085 in August, Tk 56323.816 in September, Tk 73,180,313 in October, Tk 48,023,708 in November, Tk 84,540,648 in December, Tk 85,045,023 in January 2012, Tk 39,925,661 in February, Tk 70713182 in March, Tk 55,592,986 in in April, Tk 61,325,397 in May and Tk 25,482,685 in June.
In 2012, they also earned Taka 41,200,804 in July, Taka 25,961,384 in August, Taka 56,813,049 in September, Taka 40,512,915 in October, Taka 62,422,598 in November and Taka 302,851,090 in December.
So the customs of Teknaf land port earned Taka over 1070 million as revenue within one and half years, according to customs official,
In the FY 2011-2012, the NRB estimated to get revenue Taka over 840 million from the Teknaf land port. But, the NRB got over Taka 230 million from their estimation.
The National Revenue Board has set a target to collect Taka 650 million in next Fical year 2012-2013, according to official.
This was an unexpected turn of events for the National Board of Revenue (NBR) of Bangladesh. Though there are many illegal cross border smugglings across the Naf River, the NRB got much revenue from the Teknaf land port, another custom officer said.
Burma exports fresh and dried fish, many kinds of timber, pickles, dried chili, areca nuts, turmeric, batteries, bamboo, tobacco leaf, canes, Masala (spices), sandals, umbrellas, cotton, livestock, leather and more to Bangladesh, according toa man from the Teknaf land port.
Bangladesh exports cement, cosmetics, aluminum pots, flour, medicines, human hair, ready-made garments, tortoise shells and vests to Burma.
The Teknaf land port is likely to continue to boost the country’s economy through two-way trade between Bangladesh and Burma. Bangladesh has been trying to reap economic benefits by improving trade relations with Burma. The land port will help earn significant revenues for the government and reduce cross border smugglings, according to official.