Exporters want ban on aromatic rice to go
May 31, 2009
Exporters demand that the government withdraw a ban on aromatic rice exports. They argue the withdrawal of the restriction will help farmers get fair prices for their produce without derailing the government’s efforts to control rice prices in domestic markets at the same time. But analysts have mixed reactions to the demand. Some favour it. Others want the government to ensure that farmers get prices that are not below the procurement cost of rice and paddy, as was fixed earlier. Read more
NBR probe digs out rod import scam
May 30, 2009
An inquiry committee formed to probe the allegation of assessment of imported rods before a ship’s berthing in the country’s territorial waters blamed the automated assessor for the tax fraud. M Mominul Kabir has recently submitted the inquiry report to the National Board of Revenue (NBR), saying that Data Soft, the company that operates the automated systems of Chittagong seaport customs, ‘willingly or unwillingly made the mistake’. Read more
Crocodile export starts from December
May 28, 2009
Bangladesh will export the skin, bone, teeth and meat of crocodile from a commercially run firm from December. “We expect to start export of crocodile from next December,” Mushtaq Ahmed, the chief executive of the country’s sole crocodile firm, Reptiles Firm Ltd, told bdnews24.com, “As many as 100 crocodiles will be exported in first batch,” he said. “The hide of the crocodile will be the main export product. A crocodile with all its meat, bone, and teeth can be sold up to $ 1500.” Read more
Mobile phone importers demand import duty cut
May 27, 2009
The country’s mobile phone importers demanded reduction of specific duty on import of mobile phone sets to Tk 100 from Tk 300 so that the country’s people could buy mobile handsets cheaply. “If the government reduces the duty to Tk 100, the number of mobile phone users will increase significantly. This will also help people from the lower income group to buy mobile phone sets because they are the main customers of these,” Mostafa Rafiqul Islam, acting president of Bangladesh Mobile Phone Importers Association (BMPIA), said. Read more
Mongla port from now on to unload imported cars
May 25, 2009
Imported reconditioned cars are to be unloaded at Mongla Port, a step taken for the first time by the government to make it economically viable and effective. Member (operation) of Mongla Port Authority (MPA) Md Lutfor Rahman quoted Shipping Minister Dr Afsarul Amin as saying that Prime Minister Sheikh Hasina has given consent to modernising the port by providing necessary financial support. Capital dredging of the port channels will start within a month enabling sea bound vessels to take berth without any risk. Read more
Govt making changes to tariff value list for import duty
May 23, 2009
The government is making some changes to the tariff- value list for import duty on some regular items to avert under-invoicing and manipulation by the pre-shipment inspection companies in the certification of imports. Under-invoicing by importers and unclean Clean Report of Findings (CRF) given by the foreign inspection firms are widely blamed for massive revenue leakage and even siphoning money out of the country. The items coming under the revised list of tariffs include batteries (alkaline and non-alkaline), biscuits, jet fuel and the like, National Board of Revenue (NBR) sources said. Read more
Pharma industry can match RMG in export: Salman
May 20, 2009
The pharmaceutical industry will match the garment industries in export earnings if the government builds an exclusive industrial zone for production of active pharmaceutical ingredients (API), the manufacturers said. The president of Bangladesh Pharmaceutical Industry Owners’ Association, Salman F Rahman, made the observation at a meeting with industries minister Dilip Barua on Tuesday. “As a least developed country, we will get the patent facility of the World Trade Organisation (WTO) up to 2015,” he pointed out. Read more
India, Pakistan closer to export wheat after years
May 19, 2009
India and Pakistan moved closer on Monday to export wheat and wheat products for the first time in several years after bumper harvests left them with surpluses. While India is near to exporting 2 million tonnes of wheat and wheat products, Pakistan is expected to ease curbs on wheat product exports on Tuesday, taking a step closer towards allowing sales of the grain. The export of around 2.5 million tonnes from the two nations — paltry in global trade of around 120 million tonnes — could present competition to the Black Sea wheat in the Asian and the African markets. Read more
Impose duty on rice import
May 18, 2009
The government should impose duty on rice import to guard farmers from invasion of low-priced imported rice, economists said recently, placing suggestion for the increased allocation for agri-research in the budget for fiscal 2009-10 to develop new technologies for ensuring food security. “Farm sizes become thin every year but population is on the rise. What we need is adequate public investment in research to develop improved technologies to ensure higher production in a small piece of land,” said Mahbub Hossain, executive director (ED) of Brac. Read more
Three-year export policy drafted
May 16, 2009
The Export Promotion Bureau (EPB) has prepared draft proposals for the 2009-12 export policy with several new recommendations to expedite exports. The present 2006-09 export policy will expire in June. The draft paper includes 156 proposals from business houses, chambers and trade bodies, and government offices. It recommended to the government to offer cash incentives for the export of some items, including plastic products, decoration items, environment-friendly herbal products, buttons made from coconut crust, coir products, toys and products made from bamboo and cane. Read more