The National Board of Revenue (NBR) has cut duties to control the prices of onion and sugar. The duty on onion imports has been reduced from 10 percent to 5 percent, and the regulatory duty (RD) on sugar from 30 percent to 20 percent.
Two separate notifications to this effect, signed by NBR chairman Abu Hena Md Rahmatul Muneem, were issued on Thursday (14 October).
Earlier, on 11 October, the commerce ministry had asked the NBR to withdraw the duty on onion and to cut the duty on crude soybean oil, palm oil and sugar. Within three days, the import duties on onion and sugar have been reduced.
The new duty rate on sugar, effective from Thursday, will remain in force until 28 February next year. The new rate on onion will remain in force until 31 December.
Source: Banglanews24. First published in Bengali on The Agro News.
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