150 tonnes of Pakistani tobacco seized in Ctg

In a press release issued on Thursday, the agency said the seized tobacco could produce an estimated 214.3 million cigarette sticks, with a potential retail market value of Tk 4.9386 billion.

A preliminary assessment found a substantial gap between the declared value of the shipment and the benchmark price used for similar imports.

While tobacco of the same Harmonised System (HS) code is assessed at $5.10 per kilogram for customs purposes, the company declared the price of the imported raw tobacco at just $1.45 per kilogram, the agency said.

Based on previous import prices, the consignment involves an estimated Tk 211.2 million in revenue at the import stage alone, according to customs intelligence.

The directorate warned that inadequate monitoring of tobacco imported under bonded warehouse facilities, including its actual use and the accounting of finished products, could create opportunities for duty and tax evasion throughout the supply chain, from importation to manufacturing and marketing.

The agency said further details would be disclosed later.