NBR clarifies 10–30 count cotton yarn refers to single-count yarn

The National Board of Revenue (NBR) has clarified its orders on the withdrawal of bonded warehouse facilities for imports of 10�"30 count cotton yarn and the provision allowing such imports against bank guarantees.

In an order issued on Thursday (October 29), the revenue authority stated that the term “10�"30 count cotton yarn” used in its two earlier orders refers to 10�"30 single-count cotton yarn.

The order, signed by Kazi Raihanuzzaman, second secretary (Customs: Export and Bond) at the NBR, said the bonded warehouse facility for imports of 10�"30 count cotton yarn was withdrawn on September 7 to protect local industries. However, genuine exporters holding bonded warehouse licences were allowed to import the yarn by submitting bank guarantees.

The order was subsequently amended on October 8.

The NBR said the measures were taken in line with decisions made at the first meeting of an inter-ministerial committee formed to review and resolve existing problems facing the textile industry. Issued under Section 266 of the Customs Act, 2023, the order takes effect immediately.