Md Mahabub Alam :
The Anti-Corruption Commission (ACC) has launched an inquiry to dig out irregularities committed by some exporting industries enjoying ‘bond facility’ sources said.
One can import raw materials without paying tax under the bond facility.
The government is providing this facility to 5,800 industries throughout the country to boost export. But a section of unscrupulous factory owners abuse the facility by selling the imported products in the local markets.
With this, they are depriving the government of huge taxes. Not only that, our local products suffer setback in the competition with the imported goods as the consumers hardly show interest in local products, sources said.
The organisations assigned to monitor the rightful execution of bond facility have failed to discharge their duties smoothly.
The ACC, on receipt of complaints from different corners, has assigned a deputy director to inquire whether any irregularity has been committed.
The allegations state, the owners of some sweater factories have imported span polyester, yarn count, swing thread yarn and polyester
texard yarn instead of wool to produce sweaters.
They have sold those in the local markets at high price instead of using in the factories for producing exportable items. Thus, they have violated rules and regulations.
M/s Galaxy Sweater and Yarn Dyeing Ltd in Gazipur is one of the factories that has allegedly imported the raw materials and sold those in local markets several times, say sources in ACC.
On August 12 in 2012, Apan Polyester Industry, Sayem Thread Industry and Essential Ltd filed complaints with National Board of Revenue (NBR) in this regard but in vain.
The Anti-Corruption Commission (ACC) has launched an inquiry to dig out irregularities committed by some exporting industries enjoying ‘bond facility’ sources said.
One can import raw materials without paying tax under the bond facility.
The government is providing this facility to 5,800 industries throughout the country to boost export. But a section of unscrupulous factory owners abuse the facility by selling the imported products in the local markets.
With this, they are depriving the government of huge taxes. Not only that, our local products suffer setback in the competition with the imported goods as the consumers hardly show interest in local products, sources said.
The organisations assigned to monitor the rightful execution of bond facility have failed to discharge their duties smoothly.
The ACC, on receipt of complaints from different corners, has assigned a deputy director to inquire whether any irregularity has been committed.
The allegations state, the owners of some sweater factories have imported span polyester, yarn count, swing thread yarn and polyester
texard yarn instead of wool to produce sweaters.
They have sold those in the local markets at high price instead of using in the factories for producing exportable items. Thus, they have violated rules and regulations.
M/s Galaxy Sweater and Yarn Dyeing Ltd in Gazipur is one of the factories that has allegedly imported the raw materials and sold those in local markets several times, say sources in ACC.
On August 12 in 2012, Apan Polyester Industry, Sayem Thread Industry and Essential Ltd filed complaints with National Board of Revenue (NBR) in this regard but in vain.
