The government yesterday temporarily reopened raw jute export in order to clear pending export orders which amount to around 277,000 bales.
According to jute ministry, a number of 251 letters of credit (LC) have been pending since November 3, 2015 and the decision to lift the bar on export is only to clear the pending LCs.
The decision was taken following request from exporters. “No new LC to export raw jute can be opened as per the dicision,” said Muhammad Kefayetulla, director of the Department of Jute.
He said the pending LCs were opened by 41 companies, and only they would get the facility to export during this period.