FEPD Circular Letter No. 05: Regarding taking license of Bangladesh Energy Regulatory Commission (BERC) for the import of petroleum products (HS Code No. 27.09, 27.10, 27.11, 27.12 and 27.13) according to Import Policy Order, 2015-18

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka Ref. No. FEPD(Import Policy)/123/2014-19 Date: 21 March, 2021 FEP Circular Letter No.-05 Date: 07 Chaitra, 1427 To All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office/Principal Office.

Dear Sir,

Reference is drawn to you regarding the context of obtaining a license from the Bangladesh Energy Regulatory Commission (BERC) for the import of petroleum products (HS Code No. 27.09, 27.10, 27.11, 27.12 and 27.13) under the light of the Import Policy Order, 2015-18.

Reference is invited to you to the provisions of Section 26(25), 27(g) and 27(h) of Chapter 6 of the Import Policy Order, 2015-2018; the Bangladesh Energy Regulatory Commission Act, 2003; and FEP Circular Letter No. FEPD(Import Policy)/123/2014-19 dated: 13/10/2014 and FEP Circular Letter No.-05 dated: 08 March 2018.

2. It has been mandated that importers must obtain a license from BERC prior to importing petroleum products (HS Code No. 27.09, 27.10, 27.11, 27.12 and 27.13). According to information received from BERC, it has been observed that recently banks have not been properly following the aforementioned instructions regarding the import of petroleum products, which is undesirable.

In this regard, instructions are hereby reiterated to ensure strict compliance with the updated Import Policy Order, BERC Act, 2003, and relevant instructions of Bangladesh Bank concerning the import of petroleum products (HS Code No. 27.09, 27.10, 27.11, 27.12 and 27.13).

Yours faithfully,

(Md. Ali Akbar Farazi) General Manager Phone: 9530123