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Garments assoc allowed to issue import permits
In a major development in the government's deregulation policy, the authority of controlling imports by the garments sector has been shifted to the BGMEA. reports UNB.
The Bangladesh Garments Manufacturers' and Exporters' Association (BGMEA) will now issue permits — utilisation declaration — to the garments exporters for the import of rc quired volume of fabrics and accessories against their export LCs.
The new arrangement, finalised after a year-long debate and discussions between the BGMEA and the government ministries, came into effect on October 1.
The measure, according to exporters, will relieve them of
bureaucratic harassments and delays.
The National Board of Revenue (NBR). which earlier issued the utilisation permission for imports by exporters on the recommendation of the BGMEA. announced the offloading of its responsibility in a circular last week.
To celebrate the-occasion, the BGMEA yesterday arranged a function at its conference room where Commerce Minister M Shamsul*Islam warned against any abuse of the liberalised arrangement.
"It's a prestige as well as a relief for the garments exporters . . . but please be careful to avoid any complaints about misuse of the new measure.' he told the BGMEA
members.
A similar caution was voiced by NBR Chairman Dr Akbar Ali Khan who said the authorities would decide on more-deregulations after reviewing the progress of this arrangement.
Dr Khan warned that the new liberal measure, if abused, would invite serious crisis for the local textiles sector.
BGMEA president Red wan Ahmed MP. however, pledged lo remain 'very cautious about the association's responsibilily and to maintain its credibility and integrity.
"We arg aware how badly the local textiles sector would be affected if there are leakages of duty-free fabrics in the local market.” he said.
Redwan sought technical suggestions from the NBR In the initial stage.
To assume the new responsibility. the BGMEA has rented an office in the Kawran Bazar area. Its Executive Committee members and officials have been given a two-month orien-i.ition course on the issuance of the utilisation declaration.