The Customs Intelligence and Investigation Directorate has seized a consignment of 150 metric tonnes of raw tobacco packed in 10 containers imported from Pakistan at Chattogram Port. The agency said the tobacco, imported under bond facilities by Global Leaf Tobacco Company Limited, could be used to produce cigarettes with an estimated retail market value of nearly Tk 4.94 billion.

The Customs Intelligence and Investigation Directorate disclosed the information in a press statement on Thursday (October 29).

According to the statement, the seized tobacco could be used to produce approximately 214.3 million sticks of premium cigarettes. The estimated retail market value of the cigarettes would be around Tk 4.9386 billion.

A preliminary review revealed significant discrepancies in the declared import value of the consignment, the agency said.

While similar products under the same Harmonized System (HS) code were assessed for customs purposes at US$5.10 per kilogram, the declared value of raw tobacco in this shipment was only US$1.45 per kilogram.

Based on previous import prices, the consignment involves approximately Tk 211.2 million in potential revenue at the import stage, according to the agency.

The Customs Intelligence and Investigation Directorate warned that inadequate monitoring of the actual use of tobacco imported under bond facilities and the accounting of products manufactured from it could create opportunities for evading customs duties and taxes at various stages, from import and production to marketing.

The agency said further details regarding the consignment would be disclosed later.