VOL NO REGD NO DA 1589

Friday, December 30, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & REVIEWS

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

HEADLINE
 
Importers abusing overstay penalty remission facility
Powerful syndicate compounding container congestion at Ctg port
Jasim Uddin Haroon
12/30/2005
 

          Waiving of penal charges by the CPA on overstaying of both container and general cargoes at the port yards is encouraging importers to make inordinate delays in releasing their consignment of goods.
This practice has become rampant and is contributing to the ever-worsening container congestion at the country's main seaport.
The Chittagong Port Authority (CPA) is allowing wholesale exemption of penalties violating the relevant laws framed a year back after getting a green signal from the shipping ministry.
Port sources alleged that a powerful syndicate, in connivance with some corrupt CPA officials and the concerned ministry, is regularly giving indulgence to such unhealthy practices by pocketing a good amount of money.
"We're doing this through influential high-ups", one member of such an organised syndicate bluntly admitted.
Sources claimed that the syndicate was so well connected that it could drop between 60 per cent and 100 per cent of penal charges depending on the commission it gets from the importers.
Admitting such illegal practices, Member (Harbour and Marine) Captain M Quamrul Hossain told the FE that they were offering doing away with those penal charges as approved by the ministry.
"I think this practice of exemption is playing an important role in quick release of items, which have been stored for long," he argued.
Port insiders, however, said that the CPA framed a law a year back to encourage importers and other port users to release their products within the 'free-stay' time.
Currently, all containers and general cargoes at the Chittagong port enjoy free-stay time of four days like at other international maritime ports across the world.
According to the CPA rule, each 20 feet container is to enjoy four days of free storage facilities of containers and cargoes. From the fifth day onwards, such containers have to pay US$ 1.5, after one week the rate is to go up to $ 3.0 and for a period beyond one week up to 21 days the required penalty payment is up to $ 18.
"We will charge $18 each day for a 20-feet container from the 22nd day onwards", said another official.
The port has been experiencing tremendous growth of containers in recent months vis-à-vis inadequate handling capacity and space.
"Such illegal practices by the CPA are indirectly encouraging importers to leave their containers unmoved, creating a severe container congestion in the port", said a leader of Chittagong Customs clearing and forwarding on condition of anonymity.

 

 
  More Headline
Central bank governor finds no reason to be over-concerned about forex reserve position
Powerful syndicate compounding container congestion at Ctg port
Mismatch between official, open mkt prices lands govt's rice procurement drive into trouble
General provision for banks with huge branches having no online facilities relaxed
Sunny on 116-day remand in 19 cases
Patel arrives in city next week to discuss DSC-IV
It is time for fine words to give way to meaningful action
SEC to frame two new rules for capital market
Indian cabinet approves Safta
Explosives, hand bombs recovered from Sylhet frontier
DCC floats re-tender for 4 cattle mkts
Tannery owners demand Tk 5.0b loan ahead of Eid-ul Azha
Getting the problem to solve itself
16 more SOEs to be privatised in six months
Peak season frozen food export slump likely to upset target
DSE sees negative growth in 2005
Fine china and Indian tea
India loses 46pc global textile market, China gains 700pc
India loses 46pc global textile market, China gains 700pc
New accounting guidelines for MFIs, NGOs soon
Eviction of illegal structures on Shitalakhya banks begins Jan 1
Plan to build Gulistan-Jatrabari flyover without removing settlements
Developments in the region and abroad
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com