In what is seen as a move that is expected to give a major boost to the manufacturing sector, Bangladesh Government has allowed export-oriented industries in the country to import six months’ raw materials duty-free under the bonded warehouse facility.
Media reports maintained this while adding the decision in this regard came following the cabinet committee on economic affairs approving an amendment to the import policy order recently, which was, reportedly, informed by Additional Secretary of the cabinet division Shamsul Arefin to the press after the meeting even as the committee also, reportedly, gave its consent to another amendment to the order, which sought to double the volume of grey fabrics and yarn that export-oriented dyeing, woven and spinning mills and specialised textile are allowed to import under the bonded warehouse facility, which allows the duty-free purchase of raw materials.
It may be mentioned here that manufacturers could earlier bring in the raw materials and packaging materials for four months of their capacity but now it will go up to 60 per cent of their six-month production capacity.