The move comes as part of the government's move to provide relief to the vulnerable from high staple prices. COURTESY
The government has reduced import duties on diesel imports by 10 per cent to 5pc and rice import by 25pc to 5pc effective immediately.
The Internal Resource Division under the Ministry of Finance issued an order in this regard on Sunday.
To provide relief to the vulnerable from high staple prices, the government has taken several steps. As part of the move, the Cabinet Division recently sent a letter to the National Board of Revenue to fully withdraw the existing 25.75% import duty and tax to ensure sufficient rice imports to meet the country's food needs.
The annual inflation rate climbed to over 7% in June this year, the highest since July 2013, and the government intends to protect the low- and middle-income people from the price shock in the market.
It planned to sell rice and flour to 4.4 lakh families every day by expanding the open market sales (OMS), while ensuring 10 kilograms of rice at low price for 1 crore Trading Corporation of Bangladesh (TCB) family cardholders, according to food ministry officials.
The move comes as part of the government's move to provide relief to the vulnerable from high staple prices.
The Cabinet Division recently sent a letter to the National Board of Revenue to fully withdraw the existing 25.75pc import duty and tax to ensure sufficient rice imports to meet the country's food needs.
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