Written by The Banking Post
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to simplify and speed up customs and bond-related procedures to sustain the momentum of the country’s largest export-earning sector.
A BGMEA delegation, led by director Faisal Samad, placed the request during a meeting with Mohammad Hasmat Ali, Commissioner of the Customs Bond Commissionerate, Dhaka (South), in the capital on Monday. Directors Sumaiya Islam and Kazi Mizanur Rahman were also present.
The association pressed for the quick settlement of back-to-back letters of credit (L/Cs) without Utilization Declaration (UD) certification but amended by June 2022. They also sought easier annual audits, continued use of the Customs Bond Management System (CBMS), and faster inclusion of HS codes in bond licenses.
Other demands included simplifying subcontracting, reducing harassment of bonded factories outsourcing services like washing, printing, dyeing, and embroidery to non-bonded units, and ensuring smooth import of raw materials on a free-of-cost (FOC) basis.
The BGMEA also proposed forming a joint working committee involving Customs Houses, Bond Commissionerates, the National Board of Revenue (NBR), and Customs Intelligence to address both immediate and long-term challenges.
