Print Edition - 2016-02-06 | MONEY
Imports of coal, clinker rise through Kakarbhitta
Feb 6, 2016-
The eastern border point of Kakarbhitta has seen a sharp rise in the imports of coal and clinker for the last two months following a relaxation in border restrictions.According to Mechi Customs Office, it recorded imports of 157,172 tonnes of coal worth Rs2.53 billion in the first six and half months of the fiscal year. The last two months accounted for more than 90 percent the imports. The raw materials are used by cement and brick industries.
“In the period between mid-December and mid-January, our office recorded coal imports worth more than Rs750 million,” said Mechi Customs Office chief Bhim Prasad Adhikari. “We expect the imports to increase further.” Clinker imports through the customs point amounted to more than Rs280 million in the period under review.
The raw materials are mostly imported from India, South Africa and Indonesia. Particularly, big cement industries import coal from countries other than India.
The customs office said the closure of Birgunj border point prompted traders to reroute their imports to Kakarbhitta point.
The office collected Rs630 million in revenues from coal and clinker imports—Rs470 million from coal alone.The customs office, which had been struggling to meet its revenue target due to border obstructions since September due to India’s trade embargo, has seen massive rise in revenue collection in the last two months. “The revenue collected in the last two months offset our losses incurred during mid-September to mid-November,” said a customs official.
The office collected Rs3.43 billion in the six-and-half-month period, while the collection in the period between mid-November and mid-December amounted to Rs704 million, exceeding the target of Rs454 million.Likewise, revenue collection stood at Rs795 million during the period between mid-December and mid-January. The office also met its target of Rs454 million for mid-January to mid-February 15 days earlier.
Due to the ease in border restrictions, the eastern border point has seen massive rise in the movement of cargo. Nearly 400 cargo containers, most of them carrying coal and clinker, have been entering Nepal daily.
Published: 06-02-2016 09:28