Bangladesh
Rice-Diesel Import duty on diesel, rice reduced
Own Correspondent, Dhaka, August 29: To control the prices of rice and diesel, duties and taxes on both commodities have been reduced.
The government has removed the duty on the import of rice. Besides, the regulatory duty on rice import has been reduced from 25 percent to 5 percent to increase supply in the market.
Meanwhile, advance tax on diesel has been exempted and import duty on it has been reduced from 10 percent to 5 percent. On Sunday (August 28), the National Board of Revenue (NBR) issued two separate notifications in this regard.
In the notification regarding rice, it is said that this facility will be applicable in case of import of any rice except aromatic rice. The facility will remain valid till December 31 this year.
Earlier in the afternoon, Food Minister Sadhan Chandra Majumdar had announced a further reduction in import duty to increase the supply of rice in the market.
He said that a notification would be issued on Sunday night to reduce the import duty by 10 percent to 15 percent.
On the other hand, in order to reduce the subsidy, the government increased the price of fuel oil by a maximum of 52 percent at the beginning of August. Then the price of diesel increased from a maximum of Tk 80 to Tk 114. Then there was a demand to reduce the duty. NBR announced this decision today. The notification mentioned that the reduced import duty on diesel will be effective till December 31 this year.
