Monday, 27 September, 2021

Abusing Bond Facility

11 arrested along with 508 rolls of duty-free cloths

  • Staff Correspondent
  • 1 August, 2021 12:00 AM
  • Print news

Detectives of Dhaka Metropolitan Police (DMP) have arrested 11 people along with 508 rolls of curtain fabrics worth about Tk 12.7 million for selling the duty-free cloths in open market by abusing the bond facility.

A team of Lalbagh Detective Branch of police arrested them from Elephant Road in New Market and Satrasta crossing in Tejgaon of the capital on Thursday.

The arrestees are Shahadat Hossain, Saiful Islam Jibon, Rubel Akhon, Mohammad Masum, Monir Hossain, Robin alias Hridoy Sardar, Shahin Howlader, Arif Hossain, Sohagh Forazai, Mohammad Nazim and Kamal Hossain. Six covered vans carrying the clothes were also seized.

AKM Hafiz Akhter, additional commissioner (DB) of the DMP, briefed reporters at the DMP Media Centre on Saturday.

He said the accused used to import duty-free clothes from abroad under the bond facility. Later, they were selling the cloths in the open market abusing the bond facility rules with a hope of extra profit.

“The cloths entered the country through Chattogram port. Later, the clothes were taken to Bhaluka in Mymensingh. After that, the cloths were brought to the capital for selling to the local market,” Hafiz said.

“These cloths were smuggled to the open market at convenient times for extra profit. As a result, the government is constantly losing huge amount of revenue. The country’s spinning, weaving, dyeing and finishing companies are also under threat. They’re gradually losing their feet in the competitive market as they don’t get a fair price for their products. Real traders and industrial establishments are suffering for such practice,” he added. The DB official said the government provides duty-free facility to the tune of more than Tk 730 billion through bond facility in a fiscal year.

According to the existing rules, the main condition for the use of bond licences is that the bonded goods cannot be used for any purpose inside the country except for export. If anyone wants to sell imported goods under the bond facility, he/she has to collect permission from the Bond Commissionerate by paying commercial duty.

A case under the Special Powers Act has been filed against the arrestees with New Market Police Station.

Besides customs, DB police is also working to prevent such crimes, Hafiz said.