Letter to reduce import duty of edible oil, sugar will not increase in price

News desk: The price of sugar in the country is currently higher than other countries. In this situation, a letter will be sent to the National Board of Revenue (NBR) to reduce the import duty in view of Ramadan. At the same time, Commerce Minister Tipu Munshi said that considering the current situation, the price of edible oil will not increase.

He gave this information at the end of the 5th meeting of the task force regarding the review of commodity prices and market conditions at the Secretariat on Wednesday (January 4) afternoon.

The commerce minister said that the price of sugar is a little higher than other countries. This has been discussed. We are thinking of sending a letter to reconsider the existing duty in view of Ramadan. All in all now onion, gram - these are good (affordable). The prices of these products have not increased in the international market. The price of edible oil soybean, palm oil has increased in the international market, not so much. is in good condition. If this trend continues, the price will not increase in the future.

In this case, the issue of the rate of money against the dollar should be fixed, the minister said. He said, however, the trend that we are seeing is on the good side.

Tipu Munshi further said, we have discussed seven items. Today, I have mainly discussed the month of Ramadan. It shows that roughly the situation should not be a problem.

The commerce minister said that there are some problems regarding the opening of LCs, and that was discussed today. We will talk to Bangladesh Bank. I hope I can overcome that too.

The Ministry of Commerce will assist traders in opening LCs. When asked how it will be done, the commerce minister said, like if you want to open an LC, but yours is not opening - you tell us. Our secretary will request that the LC be opened to you.

Tapan Kanti Ghosh, senior secretary of the Ministry of Commerce, who was by the side at the time, said that it is a matter. Another is that sometimes we can give permission even without LC. Can be brought without LC. In case of such situation we will give permission, LC is not required.

When asked how (import) can be done without LC, the senior secretary said, it is possible. We can provide small ones if very necessary.

There is sufficient supply of products in the market. Mainly the problem in market management. In this management there is a kind of black market and expectation of profit. This matter was discussed in today's meeting or not? If so, how? When a journalist drew attention to this, the minister said, "We have discussed." It is because these problems exist that the price is fixed at the first stage. Second is whether that price is effective in the market or not, third is whether someone has stockpiled in the hope of high profit or not. We are monitoring these.

He also said that when there is a crisis, some people try to take advantage of it by showing it. I want to say through you, there is enough (stock). Considerable efforts are underway to open up the LC on the front. We think that there will be no problem in the month of Ramadan.

 

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