FEPD Circular No. 27: Export subsidy against export of Active Pharmaceuticals Ingredients (API)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka-1000 Ref. No. FEPD-Circular-27 12 Ashwin 1425 FEPD Circular No. 27 Date: --------------------- 27 September 2018

To All Approved Dealer Banks

Dear Sir,

Subject: Provision of Foreign Currency against Export of Active Pharmaceutical Ingredients (API).

Reference is invited to FEPD Circular No. 16 dated 10 June 2018, issued regarding the payment of foreign currency against the export of Active Pharmaceutical Ingredients (API).

2. In accordance with the government's decision, it is hereby informed that Section 5(k) of the aforementioned FEPD Circular is partially amended to state that an application for foreign currency against the export of the said sector must be submitted along with a certificate from the 'Export Promotion Bureau' in place of the previous document. In this regard, necessary amendments have been made to Form 'B' attached to FEPD Circular No. 16 dated 10 June 2018, which is appended herewith.

It is requested to inform all concerned parties regarding this matter.

Yours faithfully,

Attachment: As per description.

(Md. Harun-ur-Rashid) Deputy General Manager Phone: 9530625

(Note: See FEPD Circular No. 27/2018)

Form 'B' Certificate Issued by Export Promotion Bureau

Certificate for Receipt of Export Subsidy against Export of Active Pharmaceutical Ingredients (API)

1. Name, IRC Number and Address of the Applicant:
2. Export Letter of Credit/Contract Number: Date: Value:
3. Name and Address of Foreign Buyer:
4. Name and Address of Foreign Buyer's Bank:
5. (a) Invoice Number: Date: (b) Quantity of goods mentioned in the Invoice: Value:
6. Source of collection of local materials used in the production of exported goods (Name and Address of Supplier): Quantity: Value:
7. Source of collection of imported auxiliary materials used in the processing of exported goods (Name and Address of Supplier): Quantity: Value:
8. Description of Exported Goods: Quantity: Value:
9. Date of Shipment: Destination Port:
10. EXIP Number: Value: Date:
11. Total Repatriated Export Value (in Foreign Currency): Net FOB Export Value (in Foreign Currency):
12. Certificate Number of Repatriated Export Value: Date:

Signature and Date of Exporter

Hereby it is certified that the details mentioned in the above sections are correct and true, and the authenticity/reliability of the purchase order of the foreign buyer/importer has also been ensured, by collecting materials from the sources mentioned in serial numbers 6 and 7 above through the means of collection of materials from our own factory where Active Pharmaceutical Ingredients (API) were produced for export against export subsidy.

Signature and Date of Exporter

It has been verified that the above declaration by the exporter is correct. The declared export value mentioned in serial number 8 has been found reasonable and consistent with the current international market price, and the authenticity/reliability of the foreign buyer has also been ensured. It is recommended to pay export subsidy on the repatriated export value (Net FOB Value).

Signatures, Date and Seal of Two Suitable Officers of the Export Promotion Bureau

[This certificate will be considered void if any tampering, cutting, or alteration is made.]