🚨 Opposition Raises Allegations of Customs Extortion Racket

• Allegations & Impact: SJB MP Mujibur Rahman accused Sri Lanka Customs of systematic extortion targeting importers and MSMEs. Alleged double-fining tactics and harassment are forcing businesses to halt operations, threatening employment, supply chains, and fiscal stability. • Fine Distribution Breakdown: • 50% allocated to Customs officials' rewards scheme • 20% to the Sri Lanka Customs Welfare Fund • 30% remitted to the National Treasury (~70% retained by officials) • Policy & Governance: Calls revived to update the Customs Ordinance and address corruption exposed in the 2023 IMF Governance Diagnostic Assessment, which highlighted high corruption risks and lack of internal accountability. • Revenue Performance: • 2025 Revenue: Rs. 2,557.54 Bn recorded (+64.2% YoY), exceeding the Rs. 2,241 Bn target. • 2026 8-Month Revenue: Rs. 1,852.50 Bn collected (+28.5% above target; ~25% YoY increase). • August 2026: Rs. 219.30 Bn collected against a Rs. 190.30 Bn target (+15.3% overshoot). • 2026 Target: Rs. 2,206.99 Bn (revised lower due to anticipated drops in vehicle imports).