Budget FY25: Prices up, prices down

Finance Minister Abul Hassan Mahmood Ali has proposed changes to duties on different products, which will result in an increase or decrease in their prices.

He unveiled a Tk 7.97 trillion national budget for the 2024–25 fiscal year in the national parliament, reports bdnews24.com.

In the proposed budget, the prices of these products are expected to change:

Prices may go up

Ice cream: Supplementary duty rate on all types of ice cream is being fixed at 10 per cent instead of the existing 5.0 per cent.

Soft drinks: The finance minister has proposed to fix the supplementary duty rate on carbonated beverages at 30 per cent instead of 25 per cent.

Cigarette: The rate of supplementary duty on cigarettes and similar products is being fixed at 66 per cent instead of 65 per cent.

Moreover, the local production level of cigarette or bidi paper is being set at 15 per cent instead of 7.5 per cent.

Mobile SIM: It is proposed to fix 20 per cent instead of the existing 15 per cent supplementary duty against services provided through the use of SIM/RIM cards of mobile phones.

VAT is being increased from 5.0 per cent to 15 per cent. It will increase the price-

>> Mango bar

>> Mango juice

>> Pineapple juice

>> Guava juice

>> Turmeric juice

>> 1 to 50 watts energy saving bulbs, tube lights

LRPC Cable: LRPC is proposed to increase import duty from 10.0 per cent to 15 per cent on the import of raw material wire of iron or non-alloy steel for its manufacturing industries.\

Cashew nuts: Import duty on Cashew nuts has been reduced from 15 per cent to 5.0 per cent. However, a 10 per cent regulatory duty has been imposed on the import of nuts for the purpose of developing the market for cashew nuts produced in the country.

Prices may go down

Kidney dialysis filter and circuit: Customs duty has been reduced from 10 per cent to 1.0 per cent by creating a new H code for the import of kidney dialysis filters and circuits.

Spinal Needle: To facilitate the availability of spinal needles, the import duty has been fixed at 5.0 by making it a new HS code.

Aseptic pack: Import duty on aseptic packs has been reduced from 25 per cent to 10 per cent.

Foreign milk powder: A 20 per cent supplementary duty applicable on the import of powdered milk is being withdrawn for the development of the repackaging industry.

Methanol: Import duty on bulk methanol import is also being reduced from 10 per cent to 5.0 per cent.

Polypropylene yarn: Import duty on the import of polypropylene yarn, a raw material for the carpet manufacturing industry is being reduced from 10 per cent to 5.0 per cent.

Manganese: The import duty on manganese, a raw material for the ferroalloy manufacturing industry, has been reduced from 10 per cent to 5.0 per cent.