Dhaka, Bangladesh (BBN)– The National Board of Revenue of Bangladesh will appoint fresh firms to carry out pre shipment inspection (PSI) for two more years, officials said.

The NBR has already invited and received expression of interest from interested parties, which it will evaluate on October 28 this year.

It has also decided to extend the PSI system for two more years until 2012 as its customs wing had not yet been ready to carry out the business.

In September 2009, the NBR extended the PSI system till December this year and wanted to replace the system with its own mechanism.

Currently, four foreign firms — SGS, BIVAC, OMIC and ITS – are doing the PSI under an agreement with the NBR.

The four companies are doing PSI for 2500 items, selected for the mandatory inspection system. The major items include industrial raw materials, telecommunication equipment, powdered milk, refrigerator and electrical equipment.

The mandatory PSI system was introduced in 2000 following the business community’s proposal to avoid unusual delay in the port.

BBN/SSR/AD-24Oct10-11:40 am (BST)