The government has given a substantial concession on the import of capital machinery, to ease investment and the production process in export-oriented industry. Approved industrial firms may now bring in capital machinery needed to set up a plant without an import registration certificate (IRC). There is also scope to import the repair and maintenance spare parts needed to keep production running. These provisions have been included in the final import policy.
The revised provisions were announced in a notification issued on Sunday by the import and internal trade-1 sub-division of the commerce ministry. The concessions have been granted through a set of amendments to the Import Policy Order 2026-2029.
Under the revised provisions, approved industrial firms may import the capital machinery needed to set up a plant without an IRC. The route for bringing in the repair and maintenance materials needed to keep factory machinery running has also been eased. The decision will reduce an administrative obstacle in the import process at the initial stage of setting up a plant, and will also help keep production continuous at existing factories.
Conditions on importing raw materials for the export-oriented garment sector have also been relaxed. Special kinds of man-made fibre fabric used in making seamless sportswear, high-value fashion goods and functional garments may now be brought in without restrictions of shape and size. A recommendation from BGMEA or BKMEA will, however, be required to import these goods.
The amendment also clarifies the inclusion of “other materials” alongside cotton fabric, man-made fibre and synthetic fabric. This will widen the scope for obtaining the materials needed in producing specialised garments.
Provisions for obtaining raw materials have also been eased for the export of specialised textile and hosiery products. Raw materials and packaging materials may be imported in the quantity determined by the UD or UP against a back-to-back letter of credit or contract. Goods on the prohibited or conditional list under the set rules may also be brought under this facility.
In specified cases, scope has been kept for importing goods by telegraphic transfer (TT) as well as by irrevocable letter of credit or contract. Administrative steps have also been reduced for bond-licensed factories importing salt. Customs authorities will now determine the quantity to be imported on the basis of approved annual entitlement and actual use. A recommendation from the relevant sponsoring authority will no longer be needed for this.
The process for private importers to submit insurance documents has also been moved online. Cover notes and insurance policies issued by Sadharan Bima Corporation, domestic insurance companies or, where applicable, foreign institutions must be submitted electronically to the customs authorities at the time of clearing goods.
Commerce ministry sources said the amendments had been brought in with the aim of easing the import process, taking the needs of export-oriented industry into account. Some existing complications in obtaining raw materials and machinery will be reduced, particularly for man-made fibre-based garments, specialised textiles and the setting up of new industry.
The IRC is the government registration certificate that businesses and industrial firms need in order to import goods into Bangladesh, issued by the office of the chief controller of imports and exports. There are separate IRCs for commercial and industrial importers. It has long been used as one of the foundations of the country’s import control system, serving to verify an importer’s legitimacy, what kind of goods they are importing and information about the business concerned. There was also a requirement to verify an importer’s IRC registration before opening a letter of credit through banking channels or making payment in foreign currency.