Order withdrawing bond facility for cotton yarn imports suspended

The Ministry of Commerce has asked for the suspension of the National Board of Revenue's order withdrawing the bond facility for imports of 10 to 30 count cotton yarn and allowing imports through submission of bank guarantees, for further review.

A letter was sent to the concerned authorities from the Export-8 branch of the Ministry of Commerce on Monday, September 14. In it, a request was made to temporarily suspend the NBR decision for reconsideration regarding the import of 10 to 30 count cotton yarn under HS headings 5205, 5206 and 5207 of the Bangladesh Customs Tariff.

The letter stated that the directive to cancel the bond facility for importing these goods and to allow imports through submission of bank guarantees requires further review. Therefore, it requested that the order be suspended until the review is completed.

The letter from the Ministry of Commerce mentioned the NBR order issued on September 7. The order number is 51/2026/Customs/519. The Ministry of Commerce stated that the order needs to be reviewed again considering its impact and related matters.

The letter, signed by Mohammad Khairul Alam, Deputy Head of the Export-8 branch of the ministry, was sent to the concerned departments and officials. It clarified the suspension of the decision regarding the withdrawal of the bond facility and bank guarantees for the import of 10 to 30 count cotton yarn.

As a result, an opportunity has been created for review of the uncertainty created among cotton yarn importers regarding the NBR order. However, the Ministry of Commerce letter did not provide details on what decision would be taken on the matter later.