Staff Reporter:
The National Board of Revenue (NBR) on Thursday issued a gazette notification exempting import duty on sugar and eggs to increase supply and rein in the prices of these essential commodities.
According to an NBR press release, the existing import duty on eggs has been reduced from 25% to 5% – which will reduce the price of eggs by Tk13.80 per dozen at the import stage.
Due to the reduction of import duty, the supply of eggs in the market will increase and the price of eggs will be reduced at the consumer level, so it will be more affordable to general consumers, the NBR hopes.
It also said that the costs of egg-using industries such as confectionery, bakery, egg-based food producing industry will be cut, returning “relief and balance” to the market.
This facility will remain in force till December 15, 2024.
On October 8, the existing regulatory duty on refined and unrefined sugar was reduced from 30% to 15%.
The NBR has reduced the import duty on refined sugar from Tk6,000 to Tk4,500 per metric ton within a week to increase the supply of refined sugar in the market.
Due to the significant reduction of import duty and regulatory duty on refined sugar, the supply of refined sugar will increase in the market by increasing the import of refined sugar and it will be possible to keep the price of sugar at a tolerable level, the NBR said.
