Bangladesh’s customs authority has raised the dollar value used for imposing import duties, increasing government revenue but also raising costs for consumers. Since June 23, the dollar rate for customs duty has been fixed at Tk 117.94, up from Tk 110 in mid-May, marking an increase of Tk 8.93 in just 42 days. This adjustment has led to higher import costs, impacting prices of essential goods like soybean oil and sugar. For instance, soybean oil now faces an additional duty of Tk 2 per kg due to the dollar’s rise. Similarly, sugar imports at $630/tonne saw duty rise from Tk 40 to Tk 42 per kg. The increased dollar value has also affected powdered milk and spices, with duties rising by Tk 16 and Tk 17 per kg respectively. Experts suggest adjusting duty rates to mitigate consumer price hikes amid the dollar’s appreciation, ensuring affordability of essential commodities.
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