Commerce Minister Khandaker Abdul Muktadir has asked fruit importers to open letters of credit (LCs) quickly so that more malta, dates and other imported fruit reach the market and prices settle. Speaking at a meeting with traders and government agencies at the Secretariat on Saturday, he said the government would announce its decision on the duty on imported dates this week.
The minister voiced his displeasure at the price of malta, asking traders to explain how a kilo could reach Tk 520 in retail markets once the import price, duties and other costs were counted. If evidence of abnormal pricing is found, he said, the Directorate of National Consumer Rights Protection should take action.
Traders blamed a shortage of supply. By their count, the market needs about 15 containers of malta a day, yet in some weeks only 12 to 29 containers arrived in the country. High duties, transport costs, shipping and port problems and losses on earlier consignments have made many importers cut back, they said, and the fruit's short shelf life adds to the risk.
After hearing them, the minister promised to review the duty on malta and urged importers to find alternative sources and open LCs quickly so that supply improves within the next few weeks.
He also asked traders to start preparing now for date imports ahead of coming demand. To settle a long-running dispute over the assessable value of dates, the Bangladesh Trade and Tariff Commission will meet importers within days, check international source prices for different grades and propose a reference value to the National Board of Revenue.
Customs valuation, the minister said, should neither punish traders with unreasonable assessments nor leave room for under-invoicing to avoid revenue. Manipulation by any side, he added, undermines trust in the whole system.
This report is based on reporting by Krishi Sangbad.
Photo: Hasan Iqbal / Wikimedia Commons (CC BY 3.0)
Source: Krishi Sangbad
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