Regulatory Alerts2015-12-06
Added · Updated
FEPD Circular Letter No. 27: Regarding compulsory requirement of releasing at least 20% of imported capital machinery & raw cotton through Pangaon Inland Container Terminal
Authorized dealers are required to specify the Pangaon Inland Container Terminal as the destination for at least 20% of the total value of Letters of Credit established for raw cotton and capital machinery intended for textile mills in Dhaka and surrounding areas. This mandate implements Notification No. 20/2015 issued by the Chittagong Port Authority on November 30, 2015. The directive applies to all transactions involving these specific imports within the designated geographic scope.
FEPD Circular Letter No. 27 22 Agrahayan, 1422 Circular Letter No. FEPD (Import Policy) 123/2015-27 Date: ----------------- 06 December, 2015 To All Approved Dealers Banks engaged in foreign exchange transactions Head Office / Principal Office.
Dear Sir,
Regarding the compulsory requirement of releasing at least 20% of imported capital machinery & raw cotton through Pangaon Inland Container Terminal.
Reference is drawn to your attention to Notification No. 20/2015 issued by the Chittagong Port Authority on 30/11/2015 on the subject mentioned above.
The said Notification has made it mandatory to specify Pangaon Inland Container Terminal as the destination for 20% of the total value of Letters of Credit established for raw cotton and capital machinery for use in textile mills located in Dhaka and surrounding areas.
A copy of the said Notification is enclosed herewith for your information and necessary action.
Yours faithfully,
Enclosure: 02 (Two). (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250 Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka-1000.
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