News Briefs (08-05-2019)

May 08, 2019 00:00:00

29 bond licences risky for

revenue earnings

Customs Valuation and Internal Audit Commissionerate (CVIAC) have identified 29 bond licence holders as "risky" for country's revenue mobilisation. The CVIAC, a window of National Board of Revenue (NBR), has prepared the list on the basis of specific allegations such as use of fake address and illegal sell of raw materials imported under the duty-free facility in the local market. Meanwhile, the CVIAC completed audit to 16 of those 29 licence holders and passed recommendations to the NBR for taking stern action including cancellation of licence for their involvement with unauthorised practice. The CVIAC in the audit report mentioned existence of six firms, out of the 16, which were not found while the remaining firms are involved with the misuse of bond facilities. — BSS

BSTI files cases against 10 enterprises

The Bangladesh Standards and Testing Institution (BSTI) on Tuesday filed cases against 10 enterprises in different areas of the city for selling and manufacturing adulterated food items and forgery with weight and measurement. The mobile court filed cases against the Alampiya Bakery and Confectionary, Mutual Departmental Store, Decent Pastry Shop and New Yousuf Bakery of Motijheel area, Babul Departmental Sweets and Bakery at Shahjahanpur area and Greenland Service Limited at Banani area for selling and manufacturing adulterated food items. The court also filed case against the M/S Jahangir Enterprise and M/S New Brand Shop at Gulistan area for forgery with weight and measurement. — BSS

Investment proposals rise 6.92pc in

Jan-March: BIDA

Overall investment proposals with the Bangladesh Investment Development Authority (BIDA) rose by 6.92 per cent (Tk 14.72 billion) during the January-March quarter in 2019 compared to the previous quarter (October - December, 2018). During the period, BIDA received some 328 investment proposals involving Tk 227.47 billion, said a BIDA press release. Of these, local investors submitted 285 proposals involving Tk 142.56 billion and, 18 foreign and 25 joint venture proposals of Tk 84.91 billion. — BSS