Mandatory CRF requirement for limestone import withdrawn
Tuesday, 11 December 2007
FE Report
The National Board of Revenue (NBR) has decided to rescind its previous order requiring mandatory pre-shipment inspection (PSI) of limestone imports.
The NBR has taken the decision in view of the refusal on the part of PSI agency and importers concerned to comply with the order incorporated in the national budget for the current financial year (2007-08).
The import of limestone used as raw materials by manufacturers of cement, paper and steel products has remained suspended since July 01 last. The government made it mandatory to obtain clean report of finding (CRF) from PSI companies for import of limestone.
The PSI agency, SGS Bangladesh, declined to conduct its activities in the remote and insurgent-infested areas of the north-eastern states of India while the importers refused to comply with the directive because of the additional cost burden.
The NBR will issue a Statutory Regulatory Order (SRO) within a few days withdrawing the mandatory provision for obtaining CRF.
Talking to the FE, President of the Bangladesh Limestone Importers Association Hazi Abdul Muthalib said: "We usually import limestone from India through border areas of Sylhet in an open method."
Suspension of limestone import has deprived the government of revenue worth Tk 20 million per month, he estimated.
The government earned revenues worth Tk 60 million from limestone imports in 2005-06. The amount increased to Tk 140 million in 2006-07, he said.
The limestone importers had to suffer much, financially, due to suspension of import.
"We have been requesting the NBR during the last five months to withdraw the decision, but procedural complexities took a long time to take a decision," he said.
The National Board of Revenue (NBR) has decided to rescind its previous order requiring mandatory pre-shipment inspection (PSI) of limestone imports.
The NBR has taken the decision in view of the refusal on the part of PSI agency and importers concerned to comply with the order incorporated in the national budget for the current financial year (2007-08).
The import of limestone used as raw materials by manufacturers of cement, paper and steel products has remained suspended since July 01 last. The government made it mandatory to obtain clean report of finding (CRF) from PSI companies for import of limestone.
The PSI agency, SGS Bangladesh, declined to conduct its activities in the remote and insurgent-infested areas of the north-eastern states of India while the importers refused to comply with the directive because of the additional cost burden.
The NBR will issue a Statutory Regulatory Order (SRO) within a few days withdrawing the mandatory provision for obtaining CRF.
Talking to the FE, President of the Bangladesh Limestone Importers Association Hazi Abdul Muthalib said: "We usually import limestone from India through border areas of Sylhet in an open method."
Suspension of limestone import has deprived the government of revenue worth Tk 20 million per month, he estimated.
The government earned revenues worth Tk 60 million from limestone imports in 2005-06. The amount increased to Tk 140 million in 2006-07, he said.
The limestone importers had to suffer much, financially, due to suspension of import.
"We have been requesting the NBR during the last five months to withdraw the decision, but procedural complexities took a long time to take a decision," he said.