The government is going the amend to the existing import policy order 2012-15 for easing the bulk-import of Ethylene Oxide to help flourish the local bottled gas industries in the country.
Admitting the fact, commerce secretary Mahbub Ahmed yesterday said, “The proposal will be placed at the next cabinet committee on economic affairs for getting the necessary approval.”
If the import policy order is relaxed, the local pharmaceuticals industries, producing anti-septic products, and garment industries will be benefited, he added.
As the local pharmaceutical companies are now facing production disruption due to the shortage of the Ethylene Oxide, bulk-import of Ethylene Oxide will solve the crisis.
The country would be able to save huge amount of foreign currency if the local manufactures could produce necessary bottled gas in the country, according to officials.
On December 5, 2013, the local joint-venture company JMI Industrial Gas Limited sent a proposal to the commerce ministry with a request to amend the existing import policy for easing the bulk import of Ethylene Oxide as the existing import policy order does not allow any private firms to import Ethylene Oxide in a bulk amount.
The two paragraphs will be include in the provision of 26(26) of import policy order 2012-15 fiscal year to amend the existing policy order.
As per the commerce ministry proposal, the local bottled gas industries would be allowed to import bulk amount of Ethylene Oxide only with prior approval from the Board of Investment, Chief Inspector of Department of Explosive and the directorate concerned.
“The private firms will bottle Ethylene Oxide to sell it to the license holders of the Ethylene Oxide. The sales account will be maintained by the private firms that are accountable to the authority concerned, according to proposal.
