Misuse of bond facility: 10 tonnes of yarn seized from Narayanganj

The customs intelligence seized 10 tonnes of yarn from Tanbazar in Naraynaganj city on Sunday for violating customs law. 

The yarn imported under the bonded warehouse facility was reportedly sold in the open market. 

A team of officials from the Customs Bond Commissionerate, Dhaka conducted a raid at Bismi Yarn Trading owned by Billal Hossain at Tanbazar and seized the stock of yarn worth about Tk1 crore.

Rezvi Ahmed, deputy commissioner of Customs Bond Commissionerate Dhaka, said, "Suprovo Knit Composite Factory, situated at Vadam area under Tongi upazila of Gazipur district, had imported the yarn under duty-free privileges and was supposed to make exportable readymade garments items. But, the knit factory has sold the yarn to Bismi Yarn Trading violating the bonded warehouse rules."

"The seized yarn is being taken to Dhaka. A case will be filed after investigating the matter," he added. 

Al Amin, assistant commissioner of the Customs Bond Commissionerate, said the customs officials conducted the drive based on secret information that some unscrupulous traders were importing yarn as raw material abusing duty-free privileges and selling those to local markets. 

Officials from the Criminal Investigation Department also assisted them during the drive.