The Customs Intelligence and Investigation Directorate (CIID) confiscated an export consignment when a readymade garments company attempted to send products with a higher declared value.
Media reports maintained this adding Faiyaz Fashion Ltd, based in Fatullah, Narayanganj, was initially set to export 8,350 sweaters and undergarments valued at US $ 12,485.
However, upon inspection, CIID officials discovered 853,680 pieces of denim worth US $ 341,472.
The CIID intercepted the consignment just before it departed from the Chittagong port destined for Saudi Arabia.
Had the shipment gone through, the country would have incurred a loss of US $ 328,987 or Taka 3.62 crore in export revenue, reports added.
According to CIID sources, on 15th January, the consignment arrived at a private container depot, Shafi Motors Limited, for export.
Initial reports from customs officers at the depot indicated that the goods matched the declared values. Nevertheless, the CIID, through manual checks, found discrepancies in the name and quantity of the goods during a physical examination.
