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Opportunity to import goods up to 5 lakh dollars by TT
FE Online Desk | Published: February 08, 2022 10:54:42 | Updated: February 08, 2022 15:23:06
Opportunity to import goods up to 5 lakh dollars by TT
The government has approved a draft import policy for telecommunication transfers (TTs) without opening a credit card (LC) for retailers, allowing goods to be imported in direct transactions up to লাখ 500,000. News from bdnews24.com.
The cabinet meeting on Monday set the new figure at লাখ 200,000, up from the previous policy.
In a briefing at the Secretariat after the cabinet meeting, Cabinet Secretary Khandaker Anwarul Islam highlighted various aspects of the 'Import Policy Order 2022-24'.
He said up to লাখ 500,000 worth of goods could be imported through TT for retailers, up from লাখ 200,000 previously.
Explaining this, the secretary said, “Those who are in the industry can invest in any amount of things or equipment. Suppose someone trades in parts for making refrigerators, he does LC but can import products of any amount. TT will be able to buy things worth five million dollars.
"Suppose I gave a motor parts shop, I gave any parts shop, I gave a machinery shop. I will sell, as a retailer. Then I am being given this opportunity. ”
Highlighting the benefits of TT, he said, "The basic thing is that if you want to do retail business, you can import anything up to লাখ 500,000 through TT."
According to the import policy of 2015-16, commercial importers will be able to import goods from Bangladesh up to two lakh dollars a year without opening an LC.
The new import policy is aimed at making the commercial sector 'up-to-date and competitive', the cabinet secretary said.
He said the import of some products has been controlled in the new import order. Again some products have been made easier to import.
Anwarul Islam said, "Imports can be controlled on the basis of the recommendations of the Bangladesh Tariff Commission if prices rise disproportionately at the local level if the price of a commodity rises or the price of a commodity rises in the international market without any reason for price rise or decrease in exchange."
The Cabinet Secretary said that the government did not agree to the request of the international media to lift the fumigation system in the case of import of agricultural products.
He said, "If there is anything that can harm our country if it is brought, for example, there is a possibility of an epidemic if it is brought in agricultural products, then there is a screening system.
"In some cases, we have been repeatedly asked to remove restrictions," he said. But we did not agree. Because it could hurt us. "
In this case, the Cabinet Secretary gave the example of not accepting the request of the United States to remove the fumigation from the cotton. This is called fumigation. Fumigation is when we bring in an agricultural product, whether there are any bacteria or viruses in it, whether it will make us epidemic here .... '
"America has repeatedly asked us to give up the fumigation system. But according to our experts, there is a kind of insect in American cotton. If this insect goes into the air then it can have a massive negative impact not only on cotton but also on other plants in our country.
