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The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday called on the government to ease and expedite customs and bond-related activities in order to support the continued growth of the country's largest foreign currency earner.
A delegation from BGMEA, led by its director Faisal Samad, made the plea during a meeting with Mohammad Hasmat Ali, Commissioner of the Customs Bond Commissionerate, Dhaka (South), at his office in the capital.
BGMEA directors Sumaiya Islam and Kazi Mizanur Rahman were also present at the meeting, according to a statement.
Among their key requests, the BGMEA leaders urged the Bond Commissionerate to take steps to expedite the settlement of back-to-back letters of credit (L/Cs) that lacked Utilization Declaration (UD) certification but had been amended by June 2022.
They also called for simplifying the annual audit process for garment exporters and maintaining bond registration through the Customs Bond Management System (CBMS) software.
They also sought to streamline the inclusion of HS codes in bond licenses, simplify subcontracting activities, and address the issue of harassment faced by bonded garment factories using services from non-bonded factories, including washing, printing, dyeing, and embroidery, under the guise of VAT.
The BGMEA also requested policy support to facilitate the import of raw materials on a free-of-cost (FOC) basis and to ensure that the supply of goods and services between bonded 'deemed' exporting companies and non-bonded direct exporters is free of complications.
The association urged the Commissioner to take urgent action to reform a joint working committee involving representatives from all stakeholders, including Customs Houses, Bond Commissionerates, the National Board of Revenue (NBR), and the Customs Intelligence Department, to address both short-term and long-term challenges facing the garment industry.
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