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8 June, 2018 00:00 00 AM
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28 per cent tax reintroduced on rice import

The government has reintroduced a 28 per cent tax on rice imports in the national budget for FY 2018-19 to protect local farmers. Finance Minister AMA Muhith proposed bringing back the import duties in the budget presented to the parliament yesterday. Bangladesh has cut the import duty in two phases to 2 per cent in 2017 after heavy flooding in haor areas that devastated the Boro rice harvest and raised the price of rice to a record high.

A bumper rice harvest in 2018, however, has prompted the government to raise the rates once again to support local farmers.

“This year we have a bumper production in rice, thus to protect local farmers, 25 per cent customs duty and 3 per cent regulatory duty have been re-imposed on rice import,” Muhith said in his budget speech.

The duty on locally produced starches, wheat, maize, potato and cassava, has also been rationalised to 15 per cent customs duty and

    See Page 15 Col 1

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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