5% duty on onion imports withdrawn, notification issued
Published: 07:25 PM, 22 September 2020
The Internal Resources Division of the Ministry of Finance on Tuesday has issued a gazette notification withdrawing the five percent duty imposed on onion imports.
According to the gazette notification, the entire duty imposed on onion imports has withdrawn for the public interest in consultation with the National Board of Revenue. This notification will be effective until March 31, 2021.
Earlier, Finance Minister AHM Mustafa Kamal said the 5 percent duty on onion imports had been withdrawn on the directive of Prime Minister Sheikh Hasina.
“We will break all-time records and import the maximum amount of onions. As a result, prices will be under control very soon,” he added.
Earlier this month, the Commerce Ministry sent a letter to the National Board of Revenue (NBR) requesting withdrawal of onion import duty. But the NBR rejected the request officially on September 14. In the meantime, India suddenly stopped exporting onions in Bangladesh, resulting in the increased price of onions in the domestic market.