Dhaka:The National Board of Revenue (NBR) has issued a clarification regarding its recent order on the import of 10-30 count cotton yarn, specifically addressing the withdrawal of bond facilities and the allowance of imports against bank guarantees.
According to Bangladesh Sangbad Sangstha, the NBR's order specifies that the term "10-30 count cotton yarn" refers to 10-30 single-count cotton yarn. This clarification was necessary to ensure the protection of local industries and to provide genuine exporters with access to necessary raw materials.
The order, signed by Kazi Raihanuzzaman, second secretary (Customs Export and Bond) of the NBR, states that the bond facility for importing 10-30 count cotton yarn was rescinded on September 7. This decision aims to support local industries and facilitate raw material access for exporters with warehouse licenses, who are now allowed to import the yarn by providing bank guarantees.
The order has been amended as of October 8, following the first meeting of an inter-ministerial committee established to address and resolve issues within the textile industry. Issued under Section 266 of the Customs Act, 2023, the order is effective immediately.