Print Edition - 2018-07-22 | MONEY
Vehicle imports via ICP, Birgunj customs soar
Jul 22, 2018-
The import of automobiles through Birgunj customs and integrated check post (ICP) has increased sharply in the last fiscal year, ending mid-July.
According to the statistics of customs office, 129,398 motorcycles worth Rs10.87 billion were imported through ICP in the last fiscal year. The revenue from the two-wheeler stood at Rs11.33 billion.
In the previous fiscal year, 123,309 units of motorcycles worth Rs10.22b were imported which earned the government Rs11.2 billion. Motorcycles brands such as Honda, Pulsar, and Super Splendor manufactured in India make up the majority of the imports.
In the automobile segment, jeep, car and van contribute for higher revenue. The import of these vehicles has also increased sharply. In the last fiscal year, 11,174 vehicles were imported worth Rs9.84 billion. The revenue from these vehicles stood at Rs19 billion.
These types of vehicles play a key role in collecting revenue as up to 250 percent customs charge is levied on them.
Similarly, 4,206 units of bus-truck chassis worth Rs6.45 billion were imported in the last fiscal year, contributing revenue of Rs3.37 billion.
Imports of truck and mini-truck totalled 1,872 and was worth Rs3.22 billion in the last fiscal year. The government collected revenue worth Rs1.67 billion from imports of truck and mini-truck.
Likewise, a total of 1,626 single-cab and pick-up vehicles worth Rs990 million were imported. The government raised Rs1.16 billion in revenue from these vehicles.
Birgunj customs is considered as an easy trade point for the import of vehicles.
According to traders, the point is suitable due to the close proximity to Kolkata port in India. The port is 700 km far from Birgunj.
The automobiles are parked at the yard of Birgunj customs by importers who pay a minimum charge until customers start booking the vehicles. As a result, dealers do not need to keep the vehicles in warehouses which incur high charges.
Similarly, importers also store vehicles in Raxaul, India. The vehicles are imported to the destination on demand from customers.
According to Santosh Yadav, information officer at Birgunj Customs Office, the customs has collected a healthy amount of revenue last fiscal year due to increased imports of vehicles. The contribution in revenue from automobiles import is 30-40 percent.
Increasing consumer spending capacity and expansion of road networks has increased the demand for passenger vehicles. Similarly, the government’s decision to restrict vehicles that are more than 20 years has also increased vehicles demand in Nepal.
Published: 22-07-2018 08:58