The National Board of Revenue (NBR) has announced a reduction in import duties on sugar and eggs to boost supply and stabilize prices in the market. According to a recent notification, the import duty on eggs has been reduced from 25% to 5%, which is expected to lower the price of eggs by Tk13.80 per dozen at the import level.
The NBR hopes that this duty reduction will increase the availability of eggs in the market, leading to a decrease in consumer prices, making them more affordable for the general public. Additionally, industries that use eggs, such as confectionery and bakeries, are expected to benefit from reduced production costs, which could help balance the market. This import duty relief on eggs will remain in effect until December 15, 2024.
In a similar move, the NBR also reduced the regulatory duty on refined and unrefined sugar from 30% to 15% earlier this month. The import duty on refined sugar was further reduced from Tk6,000 to Tk4,500 per metric ton, aimed at increasing the supply and maintaining sugar prices at a manageable level.
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#PriceControl #MarketSupply #ImportDuties #EssentialGoods #EconomicRelief
