Dhaka: The National Board of Revenue (NBR) has announced the withdrawal of import duty and regulatory duty on rice to bolster food security and ensure that rice remains accessible to the general population. This decision was made public from the NBR’s headquarters and aims to increase the supply of rice in the market, thereby maintaining affordable prices for consumers.
According to United News of Bangladesh, the import duty on rice was previously set at 15%, with an additional regulatory duty of 5%. The new policy eliminates these duties, leaving only an advance income tax of 2% on rice imports. This strategic reduction is expected to lower the import price of rice by approximately Tk 9.60 per kg.
The NBR expressed optimism that the policy change will enhance the availability of rice in the market, ultimately benefiting consumers and helping to stabilize prices for the common buyer. This proactive measure reflects the government’s commitment to ensuring food security in Bangladesh.