JS panel finds money laundering via betel nut trade

Some eight to ten traders are involved in money laundering via external trade of betel nut, a parliamentary panel alleged yesterday.
The traders are importing betel nuts at a high price and then exporting them at a lower price.
During the current fiscal year, betel nuts were imported at Tk 64,228 per tonne, but were exported at Tk 56,640 a tonne, said a member of the parliamentary standing committee on the commerce ministry after a meeting.
“But traders cannot export betel nut without a 10 percent value addition on the import price, as per the rules. The government is thus losing a huge amount of revenue,” said MA Latif.
A section of corrupt officials of the commerce ministry are colluding with the betel nut traders over this, he added.
“Traders just change cartons after importing the betel nuts from Indonesia, Malaysia and Thailand, and export them to India, Saudi Arabia, Britain and Vietnam with Bangladeshi labels,” said another member of the committee.
He said some corrupt businesspersons from India have a part to play in this irregularity, as the betel nuts are mainly exported to India where their prices are high.
The committee has asked the ministry's top officials to investigate the matter.
When asked about the names of corrupt traders, Latif, also an Awami League lawmaker, said: “We have asked the ministry to investigate and to identify the businesspersons.”