Yarn importers with prior LCs allowed to use land ports, NBR clarifies

The National Board of Revenue (NBR) announced on Thursday that importers who opened or amended letters of credit (LCs) for yarn on or before April 13 will be permitted to bring in cotton through land ports.

This clarification comes after confusion arose following the government’s recent ban on yarn imports through major land ports. The NBR had suspended the import of yarn, including cotton yarn, via key land ports like Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari on April 13.
The ban, which followed a request from the Bangladesh Textile Mills Association (BTMA) and recommendations from the Commerce Ministry, aims to support local yarn manufacturers and prevent under-invoicing of yarn imports. The suspension applies to all importers, including those in 100% export-oriented industries, and was enforced immediately.

SR