New CIP Policy-2023 to eliminate environmental polluters from getting status

BTJ Desk Report
Govt to honour 44 industrialists as CIP on Monday

Anyone found guilty of environmental pollution will no longer be given the CIP status, according to the most recent commercially important person (CIP) policy – 2023.

This new policy, which took effect on April 30, has replaced the previous CIP (export) policy-2013, which lacked any clauses addressing polluters and money launderers.

The CIP (export) and CIP (trade) categories of the new policy have separate status levels that are determined by the revenue received from exports of goods and services.

The policy offers CIPs a number of benefits, including a reserved seat in official vehicles, unique travel recommendations from the foreign ministry to foreign embassies, access cards to the secretariat, and the use of VIP waiting rooms and lounges at public hospitals.

Prior to the implementation of the new CIP policy in 2023, 188 people received CIP status, including 48 ex-officio and 140 based on their export revenues.

The number of export sectors has increased from 22 to 35 under the new CIP (export and trade) policy-2023, including new industries such computer hardware, denim clothing, and synthetic fibers.

For some sectors, the policy sets a minimum requirement of $150,000 in export revenues, while for others, the maximum is $1.5 million. Loan and tax defaulters are not eligible for CIP status, and potential CIPs must present a report attesting to their lack of outstanding debt that has been certified by the Bangladesh Bank and the National Board of Revenue (NBR).


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