The New Nation - Internet Edition

BSS, Dhaka

The Core Committee on the Pre-Shipment Inspection (PSI) will submit a roadmap to the National Board of Revenue (NBR) by mid-December, recommending the future of the present PSI system.

"We are holding the first meeting of the committee on Thursday to discuss the issue," Mohammad Farid Uddin, NBR member and convenor of the six-member committee, told BSS on Sunday.

The NBR formed the committee on October 25 to recommend a roadmap to abolish the present PSI system and strengthen the customs department so they can do the pre-shipment inspections.

The committee will also set a timeframe for the technical and skill development of the NBR and customs department.

The finance ministry in April formed a task force on PSI system, which submitted a report in June, recommending short, medium and long-term tasks to abolish the present PSI system.

The tasks include developing a valuation and commodity data base and risk management system, skill development of tax officials, establishing a testing laboratory and better management of workforce.

The core committee will review the recommendations of the task force to advise the NBR a timeframe to do the job.

The committee will also discuss the suggestions made at the national seminar of PSI held on October 11 in Dhaka.

Participants in the seminar including policymakers, business leaders, experts and PSI companies agreed to bring major changes to the present PSI system, which proved inefficient, non-reliable and costly for the country.

Farid Uddin said the committee would hold another meeting next week to finalise their recommendations.

"I am hopeful that the committee will submit its findings by the second week of December," he said.

The present contract with PSI companies will expire on December 31.

Concerned circle think that the NBR will have no option than to extend the time of the present agreement so the pre-shipment inspection continue for uninterrupted import.

The taskforce, however, suggested continuation of the present system until June next year to allow the authorities enough time for implementing its recommendations