Home / Knowledge / News / Govt approves reappointment of PSI firms
Govt approves reappointment of PSI firms
30
Aug '08
At a cabinet committee meeting held on August 28, the proposal to reappoint and maintain four Pre-shipment companies (PSI) - Bureau Veritas, SGS, OMIC and ITS, until December 2009 was approved by the Government.

According to the original agreement, these PSI companies were to expire by this month while another firm, Cotecna, was already cancelled from the list by the National Bureau of Revenue (NBR) due to its proven charges of massive irregularities.

PSI companies were formed in Bangladesh in the year 2001 to take over the responsibilities of the customs department which were found to have been inefficient in their work and corrupt in their practices.

As such one of the key obligations of the PSI companies is also to help the NBR develop the skills and efficiency of its customs officials. However, Mr AB Mirza Azizul Islam, Finance Adviser, who also acted as a chairman at the meeting, told the reporters, “PSI companies will not be necessary after 2009, as the customs department is likely to achieve the required efficiency by that time.”

Nonetheless, the companies would be paid a total of Tk3,750 million for their services. In the meanwhile, during a meeting of the cabinet committee on economic affairs, the Privatization Commission was asked to re-examine the proposal for privatization of the state-owned Karnaphuli Rayon and Chemical Mills and Particle Board & Veneer Plant.

The meeting, however, asked the PC to take five state-owned enterprises (SoEs) off the privatisation drive by returning them to their respective ministries. These SoEs are: Chittaranjan Cotton Mills, Daulatpur Jute Mills, Service Facilities Centres, Textile Facilities Centre and Khulna Newsprint Mills.


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Vietnam’s textile & garment exports cross $26 bn till Nov

Textiles | On 18th Dec 2017

Vietnam’s textile & garment exports cross $26 bn till Nov

Vietnam earned $26.844 billion from textile and garment exports in...

Rotex Fabrics grows production with Bruckner stenters

Textiles | On 18th Dec 2017

Rotex Fabrics grows production with Bruckner stenters

The South African company, Rotex Fabrics, which is a knitter, dyer,...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search