Prices of essential commodities may be up, down

DHAKA, June 1, 2017 (BSS) - Finance Minister AMA Muhith, in the national budget for FY 2017-18, has proposed changes to duties on different essential commodities which may result in increase and decrease in their prices.

While placing the national budget in parliament today, the finance minister said "While preparing the customs related proposals, we have considered the current socio-economic scenario, protection of domestic industries, increased industrial investment, revenue collection etc."

According to the proposal, custom duties have been reduced for some essential commodities, including capital machineries for leather industries, raw materials for medicine and ceramics industries, battery, solar panel (photovoltaic cell), hybrid vehicle, LP gas cylinder capacity below 5000 liters and cellular phone, laptop and pad (locally assembling and manufacturing).

Custom duties have been increased for some goods, including cocoa powder, poultry feeds finished, foreign made mobile set, memory card, tubes, pipes and fittings, vacuum cleaner and fishing net for finishing trawler.

Source: Bangladesh Sangbad Sangstha (BSS)