The clarification followed confusion after the recent government ban on yarn imports through land ports, a news agency reported.
Importers in Bangladesh who opened or amended letters of credit for yarn on or before April 13 will be allowed to bring in cotton through land ports, the National Board of Revenue (NBR) has announced.
The clarification followed confusion after the recent ban on yarn imports through land ports.
On April 13, NBR suspended the import of yarn, including cotton yarn, through major land ports.
On April 13, NBR suspended the import of yarn, including cotton yarn, through major land ports like Benapole, Bhomra, Sonamasjid, Banglabandha and Burimari.
The move followed a request from the Bangladesh Textile Mills Association (BTMA) and recommendations from the commerce ministry.
The decision aims at supporting local yarn producers and curb under-invoicing of imported yarn.
The ban is applicable to all importers, including cent-per-cent export-oriented industries and took effect immediately.
Fibre2Fashion News Desk (DS)
