Customs House, ICD, Chattogram has foiled an attempt to export locally sourced scrap in place of goods made from bonded raw materials, uncovering an evasion of about Tk 1.71 crore in revenue.

Acting on a tip-off, a preventive team carried out the raid on an export consignment at Golden Container Ltd., an off-dock in Chattogram, on Thursday.

The consignment belonged to Nialco Alloys Ltd based at Jahanabad, Bhatiari, Sitakunda, Chattogram.

In the presence of representatives of the C&F agent and the off-dock authorities, officials conducted a 100 per cent physical examination of the consignment, according to a press release.

The declared item was "Sorted Copper" but officials found 10 pieces of ship propeller scrap, which had not been declared.

The consignment's declared value was US$326,560 and its destination was Japan.

Preliminary investigations found that the firm had imported copper scrap and copper alloy scrap as raw materials under bond facilities.

Customs officials said that, instead of exporting goods made from duty-free imported raw materials, the firm tried to export items of a different origin and nature.

The incident has been identified as a misuse of bond facilities and an attempt to evade duties and taxes, causing an estimated revenue loss of Tk 1.71 crore to the government.

Customs House, ICD, Chattogram is now preparing its final report and taking the steps needed to file a case over the revenue evasion.