The reports published very recently in the Daily Sun and Kaler Kantho about the quality of imported bitumen might, by this time, have attracted the notice of the authorities concerned. Those reports have also revealed that a huge amount of money is being
Money laundering in the name of bitumen import!
Business Desk | banglanews24.com
A huge volume of money is being laundered through over-invoicing in the name of bitumen import.
Analyzing the volume of bitumen import, quality and international market price, it was found that around Tk 14,000 crore has been laundered through over-invoicing in the name of bitumen import.
According to the National Board of Revenue (NBR), 42 companies imported some 19,661 tonnes of bitumen in the first nine months of the current fiscal.
The value of this imported bitumen was documented at Tk 1,110 crore brought under 346 consignments.
In an investigation, it was found that the imported bitumen has been unloaded from customs by declaring the product as 60/70 grade bitumen. Questions were raised over the quality of the imported bitumen by the experts as there is no reflection of the quality of bitumen in the roads.