Bangladesh lifts ban on lube oil raw materials import

Bangladesh has amended its import policy to allow local private lube blending plants to import raw materials for lubricating oil, which had been banned since April. It, however, allowed private investors to import finished lubricant products. As a result, raw materials worth Tk 500 million (US$7.2 million) imported by local blenders have been stranded at the jetty, said Mohammad Ullah, president of the Bangladesh Lube Blenders Association. (July 7, 2010)