NBR to offer AEO facility from March

FT ONLINE

The National Board of Revenue (NBR) decided to offer local companies Authorized Economic Operator (AEO) facility from March aiming to minimise time and cost for trade related works.

Head of the AEO committee of the NBR Prokash Dewan said it to media on Wednesday.

"Two companies in pharmaceutical sector will get AEO facility under a pilot project. Industries in other sectors will be given such facility in phases," he said.

Dewan , also commissioner of Dhaka Customs House, said companies with good track record and are financially and technically sound will get the AEO facility.

Circular will be published in newspaper seeking application from pharmaceutical companies soon for offering AEO, he said.

Companies which are eligible to comply with the standards and conditions of World Customs Organization (WCO) will be declared as AEO, he added.

"I'm hopeful that we will be able to offer at least two companies AEO facility in the next month," he said.

Dewan said Square Pharmaceuticals and BEXIMCO Pharma have already contacted the NBR for getting AEO facility.

"These two companies are likely to get this facility soon," he said.

The NBR is currently working on developing the Authorized Economic Operator under a pilot project with financial and technical support of USAID.