Govt imposes 10pc duty on onion imports...

Dhaka, Friday   22 January 2021

Govt imposes 10pc duty on onion imports

 Staff Correspondent daily-bangladesh.com

 Published: 09:25 PM, 7 January 2021   Updated: 09:28 PM, 7 January 2021

Govt imposes 10pc duty on onion imports

Govt imposes 10pc duty on onion imports

The government has decided to impose 10 percent duty on the import of onion and to reduce the duty rate by 10 percent on rice imports.

Sources in the Commerce Ministry and the National Board of Revenue (NBR) confirmed this on Thursday. A gazette notification will be published in this regard tonight.

According to sources, the price of rice in the market is constantly rising despite reducing duty to 25 percent from 65.5 percent. Still, the price of rice is high. In such a situation, it has been decided to reduce the import duty on rice by 10 percent.

Sources further said that farmers and traders are in trouble as onions have started coming to Bangladesh from India. Because no one buys onions imported from Egypt and Turkey now. This imported product is rotting. The traders are facing losses. If Indian onions continue to arrive, the price of domestically produced onions will fall. The country's farmers will be affected. 

In this situation, the Ministry of Commerce sent a letter to the National Board of Revenue on January 3 requesting the imposition of import duty on onions.

Following the letter from the Commerce Ministry, the National Board of Revenue has decided to impose 10 percent duty on onion imports.

DailyBangladesh/SA