Commerce Ministry senior secretary Tapan Kanti Ghosh on Wednesday said a letter would be sent to the National Board of Revenue (NBR) to extend the timeframe for duty exemption on import of sugar in the wake of price hike in international market as well as appreciation of dollar price.
The senior secretary said this replying to a question of a reporter after attending a workshop to apprise the stakeholders about the Import Policy Order 2021-2024 to ensure the due standard of the imported food held at the Ministry of Commerce conference room.
"The existing duty structure for sugar still exists and it would remain intact until May 31," Tapan said, adding that a letter would be sent to the NBR to keep the duty exemption on sugar. "Since the price of sugar has increased, we'll make further recommendations for reducing the duty structure,"
He said that the import of sugar has declined in recent times since the price of non refined sugar and dollar has increased in the global market.
Besides, Bangladesh Trade and Tariff Commission has been suggested to adjust the price of sugar following a request received from the Bangladesh Sugar Refiners Association, said a Commerce Ministry press release.
Following request from the Tariff Commission, the price of loose sugar in the market has been fixed at Taka 120 per kilogram (KG) while that of packaged sugar at Taka 125 per kg.
The Commerce Ministry senior secretary said that whenever the price of any essential item does not remain at a tolerable level, then the government suggests NBR to lower the import duty. He said that it is the jurisdiction of the revenue board to fix the duty while they take decision about tariff after evaluating the overall situation.
Replying to another question, Tapan said that the duty exemption on import of edible oil expired on April 30 and subsequently the price of edible oil increased in the market after the Tariff Commission adjusted the price following request from the Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association.
He said that they would pursue to reduce the import duty on edible oil in the next year also.
Regarding import of e-cigarettes, the senior commerce secretary said the import policy would be framed in light of the opinion to be received from the Ministry of Health as that opinion would be considered as final decision.