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NBR proposes to reduce duty on sugar and oil

by Afonso
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The Ministry of Commerce has proposed to the National Board of Revenue (NBR) to reduce the duty of 30 percent on sugar and 10 percent on oil. NBR will take action in this regard soon.

Commerce State Minister Ahsanul Islam Titu told reporters this Wednesday afternoon at the Secretariat.

The state minister said that Prime Minister Sheikh Hasina has given instructions to reduce the duty of these four products – sugar, edible oil, dates and rice. Accordingly, on January 22, a proposal was sent to the NBR to reduce the duty on sugar and oil.

Titu said that there is stock of essential products for Ramadan. Even then, strict action will be taken if anyone cheats. No matter how big the organization, manipulation is not exempt. Consumer rights will look into whether prices are increasing at any stage from supply to market.

The Minister of State for Commerce also said that it has been proposed to import 50 thousand tons of onions and 1 lakh tons of sugar from India to maintain the supply.

The state minister said, ‘There is no reason for the abnormal increase in commodity prices in the next 2 months with the amount of imports and stocks in our country.’


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