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BTMA against central bonded warehouse

Further leakage of duty-free goods in domestic market feared

STAR BUSINESS REPORT
Alleging leakage from existing 3000 bonded warehouses, the textile owners yesterday urged government not to allow any central bonded warehouse apprehending further leakage.
At a press conference in the city, Bangladesh Textile Mills Association (BTMA) said such large-scale leakage of duty free fabrics is hurting the local business as the leaked items are sold at very cheap price in the domestic market.
"Authorities concerned are miserably failing in controlling and managing the existing 3000 bonded warehouses, resulting in the leakage of duty exempted fabrics. A large-scale central bonded warehouse will simply increase flow of duty-free fabrics in local market," said A Matin Chowdhury, chairman of BTMA, at a press conference at the National Press Club in the city yesterday.
Readymade garment manufacturers are presently allowed to import finished fabrics on back to back letter of credit (L/C) and grey fabrics for four months' requirement without back to back L/C, he said reiterating that only 1.5 million metres of fabrics were imported legally last year for commercial purposes. This quantity is equivalent to 15 days' production of a large
mill, he said.
The BTMA chairman said the RMG units get orders detailing the nature of fabrics, colour requirement on case to case basis.
"No advanced products can be brought in to reduce the lead time. Also current policy allows import of grey fabric, so there will be no incremental benefit for the central bonded warehouse," he said adding it can only be used as a dumping ground for smuggled fabric.
If establishment of central bond is considered then licences of 3,000 individual bonded warehouses should be cancelled and the central bond must be supervised closely by the authorities concerned, went on. "The government is losing huge revenue due to leakage of imported fabrics from these bonded warehouses."
Tapan Chowdhury, president of Metropolitan Chamber of Commerce and Industries (MCCI), Shahzada Miah, president of Bangladesh Specialised Textile Mills and Powerloom Industries Association (BSTMPIA), Dr Mustafizur Rahman, president of Institute of Textile Engineers & Technologists, Jahangir Alam, president of Bangladesh Yarn Merchant Association, Anisul Islam Mahmud, Abul Kashem Haidar, MA Awal and other leaders of BTMA were also present on the occasion.
Shahzada Miah said around 1100 small and medium units are the members of the BSTMPIA, of which 80 per cent are now closed because of smuggling of cloths. Non-payment of cash incentive is also taking toll on these units, he added.
Anisul Islam Mahmud said if the textile sector cannot survive, there is no hope for Bangladesh. Knitwear sector had phenomenal growth because of the current strength of the spinning sub-sector.
A high-powered government committee headed by textiles minister has recommended for not allowing a central bonded warehouse and was against implementation of SAARC cumulation because these do not protect the interest of the country's backward linkage industries. The recommendations, however, are yet to be made public.
Replying to a question, Matin Chowdhury admitted there had been some incidents regarding misuse of cash incentive but the association is now issuing certificates and trying to stop such malpractice.
The BTMA chairman also urged the government to continue 25 per cent cash assistance till 2004 and release funds for meeting all pending dues immediately.