Bangladesh's state-run National Board of Revenue (NBR) has withdrawn its import duty on raw sugar to keep prices stable during the Muslim fasting month of Ramadan, a senior official said on Saturday. The government also reduced its duty on imported refined sugar to 3,000 taka ($43.5) from 7,000 taka ($101.5) per tonne, the official said.
"The decision came into effect from Saturday, more than a week ahead of Ramadan," the official said. Ramadan begins in Bangladesh from August 23. Bangladesh produces around 175,000 tonnes of sugar in 15 state-owned sugar crushing mills annually against annual consumption of some 1.2 million tonnes.
Bangladesh has no private sugar crushing mills but has six small refining mills for imported raw sugar. To keep prices stable during the fasting month the NBR also lifted its 30 percent duty on imported dates, while the duty free facility on imports of pulses, chickpeas, chana and onions will continue.
Comments
Comments are closed.