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29 May 2024

Revenue in Akhaura Land Port slumps amid economic challenges

Enayet Khan, Brahmanbaria 

Published: 05:53, 17 October 2023

Revenue in Akhaura Land Port slumps amid economic challenges

Despite the ongoing global economic downturn and various challenges, revenue generation has decreased by about 50% in recent years in Akhaura land port of Brahmanbaria. Photo: Messenger 

There has been a gradual decrease in import revenue due to a slow pace of trade at Brahmanbaria's Akhaura Land Port.  Additionally, there has been about a 50% decrease in export business. Nevertheless, the government has been making efforts to boost trade with India through this port since 1994. 

The port's geographic location benefits Indian businesses by allowing profitable imports. Despite the ongoing global economic downturn and various challenges, revenue generation has decreased by about 50% in recent years. 

Currently, the port handles approximately one million dollars' worth of goods entering India. Import-export trade has also declined, leading to a decrease in revenue. Even in the new fiscal year, trade activity at the port remains stagnant.

In an attempt to increase domestic trade, an infrastructure development project worth 800 crore Taka has been initiated. Additionally, a Tk 5791 crore road is being constructed from Ashuganj Port to Akhaura Land Port to facilitate the transportation of goods. 

The progress of this project is over 50%. Business leaders emphasize the importance of streamlining infrastructure development and communication systems to facilitate trade. They also suggest allowing the import of all types of goods in demand to ensure timely responses to market demands. They argue that this would not only benefit businesses but also increase government revenue. The current state of the port has hindered its potential for development, and they believe that investments in these areas will lead to significant improvements.

The authorities at Akhaura Land Port report that with the completion of development projects, trade is expected to grow. Simultaneously, the expedited approval of imports of desired goods by businessmen will be necessary for trade to thrive. 

The government has allocated a budget of 800 crore Taka for development projects, which include warehouses, cold storage facilities, and two scales, in addition to the construction of the Charlene National Highway. Once these projects are completed, it is expected that trade, both imports and exports, will significantly increase.

In terms of revenue for the Akhaura Land Customs Station, the data shows that in the 2021-2022 fiscal year, imports and exports amounted to Tk 680,119,174 worth of goods, with imports at Tk 288,413,468 and exports at Tk 680,119,174. 

The government collected revenue of Tk 61,698,410 during this period. In the 2022-2023 fiscal year, from July to September, India received goods worth Tk 600,370,000, while imports amounted to nearly 76 lakh Taka, resulting in government revenue of approximately Tk 47 lakh. 

Currently, the highest-earning items for exports are dried fish, radishes, cement, and plastic products, while imports primarily consist of crushed stones, ginger, and onions. However, most of the approved imported items are less in demand, so they remain unsold, leading to hesitation among businesses to import them.

Messenger/Enayet/Disha

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