Import margin on commodities to tackle economic challenges

Finance Minister Janardan Sharma has said that provision of margin for import has been imposed to solve the challenges seen in the national economy.

Addressing a seminar on customs management organised at the Department of Customs on Sunday, Finance Minister Sharma directed to collect revenue as per the target by working hard even though the tightening of imports have affected the customs revenue.

“There is a challenge in the country’s economy at the moment. To address this, we have set a margin on imports of certain commodities,” he said. “This situation has also affected customs. But, it won’t be kept forever. This situation forced us to keep a margin for imports. As soon as the situation becomes normal, the customs system will work regularly.”

He said he believed that the seminar would be effective in resolving the problems seen in the customs office, facing new challenges created by the policy, being effective in revenue mobilisation and playing a significant role in trade facilitation.

He also directed to find a solution through a seminar as the businessmen are dissatisfied with the classification system in the import of goods.

Finance Minister Sharma informed that a guideline on vehicle scanning used in customs offices is being prepared and will be implemented soon.

He directed all the employees to move ahead in revenue mobilisation by facilitating trade.