Staff Reporter :
The government has cut duties on diesel and rice imports by 10 per cent with immediate effect.
The Internal Resource Division under the Ministry of Finance issued an order in this regard on Sunday.
With the reduction, the duty on diesel import comes down to 25 per cent and rice to 15 per cent.
The 10 per cent cut for diesel import comprises 5 per cent customs duty and 5 percent advance duty.
The Cabinet Division recently sent a letter to the National Board of Revenue to fully withdraw the existing 25.75 per cent import duty and tax to ensure sufficient rice imports to meet the country’s food needs.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), in a recent letter to Prime Minister Sheikh Hasina, sought withdrawal of the existing duty and taxes from fuel oils.
The apex chamber also demanded readjustment of the prices of the petroleum products in greater interest of the people as well as businesses.
The government raised prices of petroleum products like diesel, kerosene, octane and petrol by 47 per cent on average on August 6, 2022. Diesel price was hiked above 42 per cent to Tk 114 a litre.
Price hike of diesel triggers rises in prices of other commodities as transportation fares are linked with the fuel.
Following a steep hike in the key transportation fuel, transport owners made a 35-40- percent hike in fares of goods-carrying vehicles.
