POST TIME: 8 May, 2019 00:00 00 AM / LAST MODIFIED: 8 May, 2019 01:10:12 AM
‘Sale of’ Tk67.55cr bonded goods
Pran-RFL’s 3 concerns sued

Pran-RFL’s 3 concerns sued

The Customs Intelligence and Investigation Directorate (CIID) yesterday filed three cases under the customs act against three companies of Pran-RFL Group over selling bonded goods worth Tk 67.55 crore in the open market. Bonded warehousing facility is provided to export oriented industries for importing inputs/raw materials and packaging materials without paying any duty or taxes. The National Board of Revenue (NBR) provides bonded warehousing benefits to a wide range of industries to encourage export oriented industrialisation and facilitate exports.

Acting on a tip-off, a nine-member team led by Assistant Director of CIID Abdullah Al Mamun conducted drives in three export oriented companies of Pran-RFL Group on 29 April. During the drives, the CIID

members found anomalies in the inventories of the Allplast Bangladesh Ltd, Mymensingh Agro Ltd and Mymensingh Agro Ltd Unit-3 — all wholly owned subsidiaries of the Pran-RFL Group.

According to the customs intelligence, Pran-RFL group, one of Bangladesh’s largest conglomerates and the largest producer and exporter of the agro-goods, has violated the bonded warehousing facilities and sold goods in the open market that were meant for exports.

According to bond registrar of the bonded warehouse of Allplast Bangladesh, the facility was supposed to house a total of 4011.37 metric tonnes of goods—polypropylene, low-density polyethylene, linear low-density polyethylene, high-density polyethylene and printing ink. However, the CIID team through its on-spot investigation found only 2873.24 metric tonnes of goods in the bonded warehouse.

The worth of the goods missing is Tk 48.54 crore and the amount of tax and VAT evaded is Tk 12.35 crore.

As per the bond registrar of the bonded warehouse of Mymensingh Agro Ltd, a total of 150.11 metric tonnes of goods, pet raisin and flavor, was supposed to be there in their warehouse. But, the on-spot investigation of customs intelligence officials found only 30.78 metric tons goods there.

The worth of the missing goods is Tk 1.85 crore and the amount of the tax and VAT evaded is Tk 0.65 crore.

In the third concern, Mymensingh Agro Ltd Unit-3, the CIID officials found 1,113.98 metric tonnes goods—film and low-density polyethylene—missing than the amount mentioned in the bond register, which was supposed to be 1792.32 metric tonnes.

The value of the missing goods is Tk 17.19 crore and the amount of tax and VAT evaded is Tk 4.54 crore in this case.

The CIID officials said they found a total of 4,018-metric tonnes goods missing in the bonded warehouses against the entries in the bond registers of the three concerns of Pran-RFL Group, the value of which is estimated at Tk 67.55 crore including VAT and taxes. The amount of tax and VAT evaded is Tk 17.55 crore.

Talking with The Independent, Kamruzzaman Kamal, Director of Marketing of Pran-RFL Group, said they were yet to receive any official letter from the CIID authorities about the cases filed against the three companies of the conglomerate.

“Without receiving paper works from the customs intelligence, we cannot comment on this issue at this point,” Kamal said.