NBR to be requested to extend sugar import duty waiver

The Ministry of Commerce has fixed the price of sugar per kg for loose and packaged sugar at Tk 120 and Tk 125 respectively. But it has no effect in the market. Sugar is being bought and sold in the market from Tk 130 to Tk 145 per kg.

Tapan Kanti Ghosh, senior secretary of the Ministry of Commerce, told reporters at the Secretariat on Wednesday that according to the recommendation of the Tariff Commission, loose sugar has been fixed at Tk 120 per kg and packaged sugar at Tk 125 per kg.

According to the commerce secretary, tariff determination is the responsibility of the National Board of Revenue. In this case, a decision is made after analyzing the total situation. If the prices of necessary products rise over an accessible level, the NBR is asked to reduce the tariff. This is sometimes possible and sometimes not.

He said ,"The existing duty exemption for sugar will expire on May 31. We will write to the National Board of Revenue (NBR) to continue the duty waiver to stabilize prices and supply in the market."

The commerce secretary said that the import and supply of sugar has decreased due to the increase in the price of raw sugar in the international market and the exchange rate of the dollar in the country.