The State-run Power Grid Company of Bangladesh Ltd (PGCBL) imported tower bolts, nuts, and washers from India for $2,39,695, significantly exceeding the contract value by 1,619 times. The actual price according to the purchase agreement was $148 (Tk 16,280). Customs halted release due to the inflated price. The items were for the Extension and Empowerment of Eastern Grid Network project under PGCBL. Despite previous imports at a lower price, PGCBL cited a mistake in previous shipments for the higher cost. Attempts to clear the goods failed, prompting a request for re-export, claiming the import was a mistake. However, customs found discrepancies, including the absence of LCs and invoices for previous consignments. PGCBL permitted the use of its Business Identification Number for import. Officials suspect money laundering, with little accountability in such transactions. The NBR is verifying payment channels and import permissions before deciding on re-export.
Source for more details:
