Plastic industry dying due to NBR's injusticeCrafting
[2008-4-14]
Country's plastic goods manufacturing industry is passing through tough time as delivery of raw materials from the Chittagong port has been stopped due to injustice by the National Board of Revenue (NBR), sector leaders alleged.
At a press conference yesterday president of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) Jasim Uddin alleged that NBR is not following its directives itself resulting dumping of raw materials worth Tk 400 crore in the port.
"We have imported raw materials as per rules of the NBR. But now they stopped release of those issuing another order. We are paying US$48 demurrage for per container per day and production in some factories stopped due to shortage of raw materials," he said. In the budget for fiscal year 2007-08 the government has set a condition of importing raw materials for the industry with labeling " imported under bond, not for sell" on the packet. After a long argument the NBR agreed that the level can be put on the bags at Chittagong port at importers cost as the raw materials producers are unable to do so for particularly Bangladesh.
Importers opened a huge volume of letter of credit according to the decision, but in the mean time NBR changed its decision and imposed 100 per cent bank guarantee for the importers to get released the raw materials.
On March 1 the NBR totally stopped release of raw materials of plastic goods from the Chittagong port leaving the sector players at dire strait.
Jasim Uddin said imposition of 100 per cent bank guarantee will not ensure stoppage of leakage. The NBR has to increase monitoring to stop selling of raw materials, imported with bond facilities, in the local market, he said.
"In the last budget the decision of labeling 'imported under bond, not for sale" was imposed for liquor, cigarette and plastic goods. The decision on liquor and cigarette was withdrawn on time but we could not do so despite several meetings with NBR officials," Jasim said.
However, he said, his organisation could not meet the Finance Adviser despite repeated try. "Even the Finance Adviser did not give us an appointment though the Commerce Adviser requested him for the same," he alleged.
They urged the government to withdraw the provision of 100 per cent bank guarantee and release the raw materials immediately according to the decision of labeling by the importers at the Chittagong port. BPGMEA vice president Sahedul Islam Helal, Ferdous Wahed and General Secretary Shamim Ahmed were present, among others, on the occasion.
At a press conference yesterday president of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) Jasim Uddin alleged that NBR is not following its directives itself resulting dumping of raw materials worth Tk 400 crore in the port.
"We have imported raw materials as per rules of the NBR. But now they stopped release of those issuing another order. We are paying US$48 demurrage for per container per day and production in some factories stopped due to shortage of raw materials," he said. In the budget for fiscal year 2007-08 the government has set a condition of importing raw materials for the industry with labeling " imported under bond, not for sell" on the packet. After a long argument the NBR agreed that the level can be put on the bags at Chittagong port at importers cost as the raw materials producers are unable to do so for particularly Bangladesh.
Importers opened a huge volume of letter of credit according to the decision, but in the mean time NBR changed its decision and imposed 100 per cent bank guarantee for the importers to get released the raw materials.
On March 1 the NBR totally stopped release of raw materials of plastic goods from the Chittagong port leaving the sector players at dire strait.
Jasim Uddin said imposition of 100 per cent bank guarantee will not ensure stoppage of leakage. The NBR has to increase monitoring to stop selling of raw materials, imported with bond facilities, in the local market, he said.
"In the last budget the decision of labeling 'imported under bond, not for sale" was imposed for liquor, cigarette and plastic goods. The decision on liquor and cigarette was withdrawn on time but we could not do so despite several meetings with NBR officials," Jasim said.
However, he said, his organisation could not meet the Finance Adviser despite repeated try. "Even the Finance Adviser did not give us an appointment though the Commerce Adviser requested him for the same," he alleged.
They urged the government to withdraw the provision of 100 per cent bank guarantee and release the raw materials immediately according to the decision of labeling by the importers at the Chittagong port. BPGMEA vice president Sahedul Islam Helal, Ferdous Wahed and General Secretary Shamim Ahmed were present, among others, on the occasion.
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