Govt eases export ban on jute ready for shipment
Monday, 4 January 2010
S M Jahangir
The government relaxed Sunday the export ban on raw jute, only for which letters of credit (LCs) were opened for shipment before imposition of the export restriction on December 7.
The government has also kept the 'machine processed staple jute (MPS)' outside the purview of the ban.
"On the basis of Bangladesh Bank (BB) list, restrictions on export of raw jute, against which LCs were opened until December 7, 2009 through 16 banks has been withdrawn," said a circular issued by the textile and jute ministry Sunday.
It, however, said despite opening of LCs, the BTR (Bangla white rejected) categories of raw jute cannot be exported.
Such relaxation on the export ban came following a decision of an inter-ministerial meeting, which was held recently with the Textile and Jute Minister Abdul Latif Siddiqui in the chair, official sources said.
Senior officials from the ministries of commerce, foreign affairs and the textile and jute were present at the meeting that reviewed the post-export ban situation.
Earlier, the government through a circular imposed a ban on export of all grades of raw jute in line with articles 4 and 13 of the Jute Ordinance 1962 following a supply scarcity faced by the local jute mills.
The earlier circular, however, said raw jute both in the form of 'kancha' and 'pacca' bales that have already been taken to ports but were yet to been shipped will come under the export ban.
As a result, shipment of a significant quantity of raw jute at ports remained suspended, the sector insiders said.
The government relaxed Sunday the export ban on raw jute, only for which letters of credit (LCs) were opened for shipment before imposition of the export restriction on December 7.
The government has also kept the 'machine processed staple jute (MPS)' outside the purview of the ban.
"On the basis of Bangladesh Bank (BB) list, restrictions on export of raw jute, against which LCs were opened until December 7, 2009 through 16 banks has been withdrawn," said a circular issued by the textile and jute ministry Sunday.
It, however, said despite opening of LCs, the BTR (Bangla white rejected) categories of raw jute cannot be exported.
Such relaxation on the export ban came following a decision of an inter-ministerial meeting, which was held recently with the Textile and Jute Minister Abdul Latif Siddiqui in the chair, official sources said.
Senior officials from the ministries of commerce, foreign affairs and the textile and jute were present at the meeting that reviewed the post-export ban situation.
Earlier, the government through a circular imposed a ban on export of all grades of raw jute in line with articles 4 and 13 of the Jute Ordinance 1962 following a supply scarcity faced by the local jute mills.
The earlier circular, however, said raw jute both in the form of 'kancha' and 'pacca' bales that have already been taken to ports but were yet to been shipped will come under the export ban.
As a result, shipment of a significant quantity of raw jute at ports remained suspended, the sector insiders said.