Business leaders seek relief from NBR's 'high-handedness'
Some 73 companies received National Export Trophy 2020-21 for their exceptional export achievements
Business leaders have denounced the arbitrary penalties imposed by the customs department of the National Board of Revenue (NBR) on HS code issues, labelling them as "injustice".
Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), and its former president AK Azad said if the practices continue, the country's industrialisation and export activities will grind to a halt.
They expressed their concerns at the National Export Trophy 2020-21 award ceremony organised by the Ministry of Commerce and Export Promotion Bureau at the Osmani Memorial Auditorium in Dhaka.
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Commerce Minister Tipu Munshi presided over the ceremony, with Tapan Kanti Ghosh, senior secretary of the Ministry of Commerce, in the chair.
This year, the authorities recognised 73 companies for their exceptional export achievements in fiscal year 2020-21. Among these recipients, 28 were awarded gold, 25 silver, and 19 were awarded bronze trophies.
Rifat Garments of Ha-Meem Group emerged as the top exporter, earning around $223 million during the fiscal year. Its performance earned the company the Bangabandhu Sheikh Mujib Export Trophy.
The selection process for these awards involved evaluating applications from 245 companies across 31 export sectors.
AK Azad, managing director of Ha-Meem Group, criticised customs for persecuting traders and sought the Commerce Minister's intervention to protect traders from NBR's actions.
Azad, who is also a former president of the FBCCI, accused customs of being oppressive in its efforts to meet revenue targets. He called on the Commerce Minister to intervene and protect traders from the actions of the NBR.
He also criticised the ongoing political violence in the country, saying that it is harming the business environment.
FBCCI President Mahbubul Alam expressed concern about the escalating cost of doing business in Bangladesh.
He highlighted the exorbitant penalties, ranging from 200% to 400%, levied for incorrect HS code classifications, further exacerbating the financial burden on businesses.
Mahbubul Alam said the surge in truck fares, which have doubled from Tk17,000-Tk18,000 to Tk34,000, has further strained the operational margins of businesses.
Among industry classification systems, Harmonised System (HS) codes are commonly used throughout the export process for goods. The system is a standardised numerical method of classifying traded products.
At the programme, Commerce Minister Tipu Munshi reaffirmed the government's unwavering commitment to empowering businesses and propelling Bangladesh's export sector to unprecedented heights. He emphasised the government's ambitious goal of generating a staggering $100 billion in export earnings by 2026.
Uzma Chowdhury, director of Pran RFL Group, which received the most awards as a single group, said that export trade is expanding due to the government's policy support. It will further expand if the government continues to provide policy support.
Other companies that received the export trophy are Snowtex Outerwear, Badsha Textiles, Jaber & Jobair Fabrics, Noman Teritawell, Akij Jute Mills, Picard Bangladesh, Bay Footwear, Pran Dairy, Karupanya Rangpur, Shinepukur Ceramics, Bengal Plastics, Beximco Pharmaceuticals, Energypack, Mir Telecom, Square Textiles, Envoy Textiles, Momtex, BD Creation, Rangpur Metal, Walton Hi-Tech, Incepta Pharmaceuticals, Golden Harvest, Pacific Jeans, BRB Cables, BSRM Steel, and Square Pharmaceuticals.
