Staff Reporter :
Customs Intelligence and Investigation Directorate (CIID) on Sunday recovered a covered van loaded with bonded textiles worth Tk one crore on the Johnson Road in the city.
Tipped off, a team of CIID seized 281 rolls of polyester textiles imported using bond facility by Mastex Industries Ltd, a export oriented garments manufacturing company located at Turag, Dhaka.
Earlier in June 2017, CIID seized four covered vans with bonded textiles of the same company and fined Tk 40 lakh for misusing bond facility. Another case of misusing bond facility worth Tk 125 crore is under investigation of CIID against Mastex Industries Ltd.
Mastex Industries Ltd had imported 824 rolls of polyester textiles using bond facility and cleared those from Chittagang port.
Three covered vans were loaded with imported fabrics for sale at Islampur, Dhaka, which is a wholesale cloth market.
CIID team succeeded to recover one van, but two others managed to escape avoiding prosecution.
The covered van has been transferred to department’s head office and efforts are on to recover other two vans.
A case has been filed under the customs law against the company for illegal trading of imported bonded materials.
Government provides bond facility to export oriented manufacturers only to export products after manufacturing. But some profit seeking illegal producers sell imported raw materials in the local market to make extra bucks. It not only deprives the government from revenue earnings but also creates uneven competition in business and destroy local producers.
CIID is keen to eliminate such misuse and would continue such drive.
Customs Intelligence and Investigation Directorate (CIID) on Sunday recovered a covered van loaded with bonded textiles worth Tk one crore on the Johnson Road in the city.
Tipped off, a team of CIID seized 281 rolls of polyester textiles imported using bond facility by Mastex Industries Ltd, a export oriented garments manufacturing company located at Turag, Dhaka.
Earlier in June 2017, CIID seized four covered vans with bonded textiles of the same company and fined Tk 40 lakh for misusing bond facility. Another case of misusing bond facility worth Tk 125 crore is under investigation of CIID against Mastex Industries Ltd.
Mastex Industries Ltd had imported 824 rolls of polyester textiles using bond facility and cleared those from Chittagang port.
Three covered vans were loaded with imported fabrics for sale at Islampur, Dhaka, which is a wholesale cloth market.
CIID team succeeded to recover one van, but two others managed to escape avoiding prosecution.
The covered van has been transferred to department’s head office and efforts are on to recover other two vans.
A case has been filed under the customs law against the company for illegal trading of imported bonded materials.
Government provides bond facility to export oriented manufacturers only to export products after manufacturing. But some profit seeking illegal producers sell imported raw materials in the local market to make extra bucks. It not only deprives the government from revenue earnings but also creates uneven competition in business and destroy local producers.
CIID is keen to eliminate such misuse and would continue such drive.
