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Change Your Life! |
BGMEA-NBR sub-committee made recommendations about bond license |
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News |
May 8, 2000
Dhaka, May 7 (UNB) – A sub-committee comprising NBR officials and BGMEA leaders made five recommendations for consideration by the National Board of Revenue on its fresh conditions about bond license. The recommendations are: 1). Providing the concerned factory with the report prepared by the customs house after its annual visit to the factory. Alongside, physically inspecting five percent, in some cases 10 percent, of the export-bound cartons. 2). Reviewing BGMEA logic on determining annual bonding capacity and item-wise entitlement and adjusting the list of raw material with HS code. 3). Softening the rules about clearing raw material if stock-lot exists. 4). Issuing general bond on priority basis for the companies who have no irregularity. The NBR has extended the tenure of general bond to three years from one year. 5. Issuing new bond license for new companies within three weeks. Decreasing the number of papers for bond license, which is now 23/24. Considering the bond issued during receiving a new bond license as a permanent one. The sub-committee made the recommendations in its first meeting here today (Sunday) where the BGMEA leaders came up with the specific suggestions, said a release of the Bangladesh Garment Manufacturers and Exporters Association. Earlier the NBR formed the sub-committee comprising its officials and BGMEA leaders as the garment sector sought some amendments to the new conditions for the bond license. Dhaka (north) customs commissioner Ali Ahmed is head of the sub-committee and he presided over the meeting attended by BGMEA leaders Anisul Haq, Anwar-ul-Alam Chowdhury and Farid Ahmed.
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