PM consents to reducing import duty on essentials: Ahsanul

State Minister for Commerce Ahsanul Islam Titu today (Sunday) said that Prime Minister Sheikh Hasina has given consent for reducing duty on essentials at the import stage.

"We've challenges centring the ensuing month of Ramadan and we've taken notable steps to address those. We've to import 90 per cent of the total domestic demand for edible oil and sugar. The Prime Minister has given consent for lowering import duty following our proposals.

Hopefully the NBR will lower the import duty at a rationale rate soon, and thus the consumers will get benefits during the month of Ramadan," he said.

The state minister said this while addressing the 'BCCCI-ERF Journalism Award' held at a city hotel. The award was given to the journalists for their best reports in five different categories.

Presided over by ERF president Refayet Ullah Mirdha, its general secretary Abul Kashem moderated the function.

FBCCI president Mahbubul Alam, Minister Counsellor and Deputy Chief of Mission of the Chinese Embassy in Bangladesh Yan Hualong, Bangladesh China Chamber of Commerce and Industry (BCCCI) president Gazi Golam Mortuza and general secretary Al Mamun Mirdha spoke on the occasion.

The state minister said the current stockpile of rice in the country is around 1.8 million (18 lakh) metric tonnes, and this is sufficient for the country compared to its demand.

Noting that the supply of essential items during the month of Ramadan would remain uninterrupted, Ahsanul said it is now high time to work on the fine-tuning of the supply chain, starting from producers, manufactures to importers, wholesalers and retailers. "The consumers will get essentials at fair prices if the initiative becomes successful," he added.

Mentioning that Prime Minister Sheikh Hasina has already made coordination among the Ministries of Commerce, Agriculture, Fisheries and Livestock, he said that the Ministry of Commerce does not work on production, imports, and exports but rather on policy issues.

 "All related to supply chain should have to be brought into a single platform to establish the rights of the consumers through a nice policy."

Regarding the issue of importing sugar and onions from India, Ahsanul said his Indian counterpart has assured of simplifying the process for importing such essential items.

The State Minister said the state-run Trading Corporation of Bangladesh (TCB) provides essential items to some one crore families round the year every month, including in the month of Ramadan. In continuation of this, he said onions and sugar would be imported from India, which would have a positive impact.

Apart from the TCB, Ahsanul said the government also wants to ensure a smooth supply chain by ensuring additional supply.

FBCCI president Mahbubul Alam said that the country's economy is moving ahead and will continue to move.

"If all concerned work in a concentrated way, then it will be possible to build a nice country," he added.

The chief of the country's apex trade body also assured that the FBCCI would extend all sorts of cooperation to Chinese investors in the case of their investments in Bangladesh.