The New Nation - Internet Edition

UNB, Dhaka

The National Board of Revenue (NBR) has chosen four pre-shipment inspection (PSI) agencies initially at its first evolution committee meeting yesterday.

A total of seven PSI companies submitted their proposals after the NBR had floated an open tender for appointing new PSI agencies. Sunday was the last date for submission of proposals.

"Initially, we have selected four companies out of seven… But final selection will take some time," a member of the evolution committee told UNB.

NBR sources said that the four primarily selected PSI companies are SGS (Bangladesh) Limited, Bureau Veritas BIVAC (Bangladesh) Limited and Intertek Testing Limited and OM Inspection Company.

During the previous BNP-led 4-party alliance government, four PSI companies-Cotecna Inspection SA, SGS (Bangladesh) Limited, Bureau Veritas BIVAC (Bangladesh) Limited and Intertek Testing Limited - were commissioned in August 2005 for three years for certifying prices, quality and quantity of imported goods.

The Finance Adviser in his budget speech said that currently mandatory pre-shipment inspection system is applicable for most of the importable items.

PSI system was introduced for ensuring faster clearance of imported cargo and preventing revenue pilferages.

To replace the PSI system, customs department will require to train up its officials on WTO valuation, trade policy, ASYCUDA system, risk management.