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Saifur asks BB to look into Indian exporters' complaint

STAR BUSINESS REPORT
Finance and Planning Minister M Saifur Rahman yesterday asked the Bangladesh Bank governor to look into the complaints lodged by some Indian exporters about payments against their exports.
The minister's move came as Federation of Indian Export Organisation (FIEO) alleged that some of the banks are not paying off the Indian exporters.
A FIEO team led by its Chairman (eastern region) SK Jain called on the finance minister yesterday at the latter's planning commission office and sought his intervention.
The finance minister immediately called the central bank governor and directed him to investigate the matter and take necessary
steps.
Saifur told the journalists that the FIEO team apprised him of their problems and he immediately talked to the officials of BB and some other banks and asked them to solve the problem.
There is problem on the Indian side either, he said adding that sometimes quality of their products does not remain good and weighing is not done properly.
A meeting source said the FIEO team also mentioned names of four private banks to the minister.
Saifur told the Indian exporters to seek help from embassy concerned to find out efficient banks here and transact with those. "If you did so, you would not find yourselves in such troubles", he added.
Indian exporters are facing some
problems in banking transactions as some of the banks are not making their Letter of Credit (LC) payment in time and committing fraudulence, SK Jain told the journalists.
Jain also apprised Saifur of some problems prevailing in the customs of some land ports in the country. "If one metric ton of wheat costs $150, such problems raise the price to $200", Jain said adding that Bangladesh is losing due to these problems.
Jain pointed out that in India ports activities continue from 5am to 6pm while in Bangladesh work doesn't start before 9am and ends at 3pm.
As a result, an India truck that arrives at the border at 6am needs to wait until 9am to enter Bangladesh.