Advisers send back NBR proposal of appointing PSI audit agency

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Doulot Akter Mala
The revenue board's move to appoint an audit agency for pre-shipment inspection (PSI) companies encountered a glitch as the proposal has failed to get the approval of the Council of Advisers.
The purchase committee of the Council of Advisers sent back the National Board of Revenue (NBR) proposal last week asking it to give further details on the benefit of appointing a PSI audit agency for the next two years.
'The government will have to spend nearly Tk 1.40 billion in a year as fees for an international audit agency. So, the advisory council sought a clear picture of the economic benefit of appointing an audit agency,' an official said.
An evaluation committee of the NBR during the last six months carried out a long selection procedure to appoint the audit agency. The move was initiated in 2001 but it faced different complexities, the official added.
The evaluation committee of the NBR selected the US-based National Marine Consultants Inc. (NMCI) as it was the lone responsive company, as per the financial and technical offers submitted.
The purchase committee also said the selection of the lone audit agency is controversial as some allegations have been raised against the company, he mentioned. The whole procedure of selection for appointing the PSI audit agency has taken a long time.
The purchase committee also said the whole procedure of appointing the PSI audit agency has been delayed as six months of its two years tenure have already elapsed by, he said.
According to government statements, the PSI system will be withdrawn by December 2009. So there is no justification of taking a new move to appoint the audit agency for two years, the official said.