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Govt allowing import of 1 lakh tonnes of sugar to stabilise market

Published : 23 Oct 2022 10:35 PM | Updated : 24 Oct 2022 12:52 PM

As a precautionary measure the government is allowing import of another 1 lakh tons of sugar on an urgent basis to meet domestic demand.

On Sunday, Bangladesh Bank (BB) said in a media statement that traders can open LCs for sugar import as per the government's new instruction.

BB’s spokesman Abul Kalam Azad told UNB that importers must collect permission letters from the ministries concerned to open LCs.

Officials of the Ministry of Commerce say that the move of the government came despite no shortages of sugar in the domestic market. The reason behind the decision is to ensure adequate supply of sugar and keep the price stable, they say.

They say import of another 50,000 tons of sugar had been allowed earlier.