Export-oriented industries having valid bonded warehouse licence are conditionally allowed to enjoy the facility.
The government has allowed readymade garment (RMG) exporters to import yarn from India in partial shipment through the country’s land ports.
The National Board of Revenue (NBR) issued an office order in this regard on Sunday.
According to the order, the export-oriented industries having valid bonded warehouse licence are allowed to enjoy the facility on conditions.
They have to import yarn through back-to-back letters of credit (LCs) and have to follow the annual import entitlement issued by the Customs Bond Commissionerate offices.
The importers must follow the utilization declaration and should maintain the actual quantity in the customs process at Benapole, Bhomra, Sonamasjid and Banglabandha ports, according to the NBR.
Meanwhile, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) informed its members about the development through a letter on Monday.
Previously, the RMG exporters could import yarn through Benapole land-port under the bonded warehouse facility, but they were not allowed to make partial shipments.
A partial shipment facilitates an importer to receive the imported goods in more than one delivery, and it was allowed only through Chittagong Port previously.
Apparel and terry towel exporters were demanding to allow them import and partial shipment of raw materials, including cotton, yarn and fabrics, under the bonded warehouse facility through all the land-ports between Bangladesh and India.
The Bangladesh Textile Mills Association (BTMA), however, then opposed the apparel makers’ plea.
The BTMA argued that the approval for partial shipment of yarn import would be suicidal.
Several shipments would take place against one LC, and additional quantity of products would enter into the country through dodging taxes, which might create an uneven competition for the local mills, it added.
