Monday, 25 May 2020

Teknaf, Bangladesh: Teknaf land port earned 74,808,576 Taka including tax in July, the fist month of the 2011-12 fiscal year, through the boosting of two-way trade between Bangladesh and Burma, according to a customs official from Teknaf.

“In July, the customs from Teknaf land port passed 202 bills from Burma, in which they earned revenue of 74,808,576 Taka. They also earned 7,899,637 Taka from Teknaf land port in July by passing 47 bills from Bangladesh.”

Though there is no estimated budget from NBR for the month of July for the fiscal year of 2011-12, the customs earned a significant amount.

Burma exports fresh fish, dried fish, many kinds of wood, pickles, dried chili, areca nuts, turmeric, batteries, scraps, bamboo, tobacco leaf, canes, Masala, slippers, umbrellas, cotton, cows, buffaloes, leather, goats, and more to Bangladesh.

Bangladesh exports cement, Fair and Lovely cosmetics, aluminum pots, flour, medicines, hair, ready-made garments, and vests to Burma.

Customs Official Anwar from Teknaf said, “In August, it is not clear whether we will get more or less revenue compared to July. It will depend on the traders.”

The Teknaf land port is likely to be the dawn of a new era in the country's economy through boosting of two-way trade between Bangladesh and Burma. Bangladesh has been trying to reap trade and economic benefits by improving relations with Burma. The land port will help earn significant revenues for the government.

An official said that the revenue earnings from the Teknaf land port have already increased significantly as the authorities collect 600 million Taka annually, whereas the figure was only 50 million Taka just before the handing over of the port to the private sector.

Officials said the land port may help increase national incomes through increased trade and stop cross-border smuggling.

The Teknaf land port, located on the Bangladesh-Burma border, began to operate in 1995.There are 13 land ports in the country, and of them, Benapole is the biggest, followed by Teknaf.