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Restrictions on import of luxury goods including cars

Dhaka, May 11: Deficit in foreign trade is increasing due to the pressure of import expenditure. The dollar is also out of control. In such a situation, the central bank has added new conditions to reduce the import of luxury goods. From now on, banks have been directed to maintain a minimum of 75 per cent cash margin rate on LCs against imports of car and home appliance products. In the case of other LCs, the margin rate has been fixed at 50 per cent.