Over Rs. 3 bln earned from issuance of import & export control licenses in 2024

The Department of Import and Export Control has reported a revenue of Rs. 3.7 billion for the year 2024, generated through the issuance of import and export control licenses. 

According to the 2024 performance report of the Department, this marks a 13% increase in revenue compared to the year 2023.

A total of 17,010 import and export licenses were issued during the year, the Department said. 

The highest number of licenses were granted for the importation of mobile phones, communication equipment, and other equipment.

Additionally, there was a notable increase in the issuance of licenses for the import and export of chemicals, fertilizers, pesticides, and industrial raw materials.

Between June and December 2024, approval was granted for the importation of 300,000 metric tons of maize for animal feed production. During this period, 2,222 import licenses were issued to import maize, which represents an increase compared to the previous year.

Furthermore, licenses were issued for the importation of 15,000 metric tons of shelled cashew nuts for local consumption — another figure that exceeds that of 2023, the Department noted.

The Department also stated that 687 licenses were issued for the importation of tea leaves in 2024, indicating an increase when compared to the previous year.