Regulatory Alerts2020-04-20
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Import of raw materials on 360 days usance basis for Power Generating Enterprises
This circular clarifies that the 360-day usance period for importing industrial raw materials on a deferred payment basis, previously established for power generating enterprises, also applies to the import of Heavy Furnace Oil (HFO) and High Sulphur Fuel Oil (HSFO). Power generating enterprises may import these fuels as raw materials for their own use through nominated entities, provided they obtain specific approval from the Ministry of Power, Energy and Mineral Resources. All other relevant instructions regarding import transactions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 16 Date: April 20, 2020 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Import of raw materials on 360 days usance basis for Power Generating Enterprises
Please refer to FE Circular No. 24, dated May 22, 2019 in terms of which import of industrial raw materials on deferred payment basis is permissible on up to 360 days in the case of power generating enterprises only. 2. This is to clarify that 360 days usance period is also permissible to import Heavy Furnace Oil (HFO)/ High Sulphur Fuel Oil (HSFO) as raw materials for own use of power generating enterprises by their nominated entities against specific approval from Ministry of Power, Energy and Mineral Resources. Other relevant instructions regarding import transactions shall remain unchanged. Please bring the contents of this circular letter to the notice of your concerned clientele. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123
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