The Chattogram Customs House on Thursday seized a consignment of a Narayanganj-based exporter who allegedly attempted to swindle the government out of more cash incentive than was owed by falsely declaring the content of its export items to the UAE.
The Chattogram Customs House sources said that the exporter declared 82,000 pieces of jute products worth Tk4.77 crore. But during the physical inspection, customs found only 29,993 pieces of jute products with a face value of Tk25,77,026.
The false declaration would have resulted in the company getting Tk76,36,972 as the government provides cash incentives for 37 sectors to promote export.
The amount of cash incentive for agro products – 20% -- is the highest.
Taking advantage of this, a syndicate steals money without exporting any product or by falsely declaring exports.
The Chattogram Customs House Deputy Commissioner Md Ahsan Ullah told The Business Standard that they came to know about the swindle from a tip-off.
The customs will take exemplary action against the company according to the Customs Act 1969 and other laws.
The C&F agent of the accused Sagor Jute Diversified Industry was Azizul Haq and Co at Dewanhat area of the city. The exporter opened a letter of credit through the Al Arafah Islami Bank.
Shawkat Bahar Chowdhury, director of Azizul Haq and Co, told TBS that they had worked on the products which the exporter told them to send. They had no idea beyond those items.