In the proposed budget for the 2024-25 fiscal year, the government of Bangladesh has recommended the withdrawal of tariff concessions on materials used in the production of air conditioners and refrigerators. As a result, prices for these appliances are expected to rise.
Finance Minister Abul Hasan Mahmood Ali made this proposal while presenting the new fiscal year`s budget in the National Parliament on Thursday, June 6.
Abul Hasan Mahmood Ali stated, "In the interest of revenue collection, I recommend increasing the import duty on various types of steel sheets mentioned in the notification related to air conditioner manufacturing enterprises from 5% to 10%. Additionally, I propose increasing the import duty on products currently set at 10% to 15%."
On Thursday, June 6, Finance Minister Abul Hasan Mahmood Ali presented the largest budget in the country`s history. The proposed budget for the 2024-25 fiscal year amounts to Tk 7,97,000 crore.
This is the 53rd budget of independent Bangladesh and the 21st under the leadership of Prime Minister Sheikh Hasina. The budget size for the previous fiscal year (2023-24) was Tk 7,61,000 crore.
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