<div style="text-align: justify; "><span style="font-size: 1rem;"><b>Traders have proposed increasing the prices of edible oil by Tk 10 per litre as the tax exemption deadline on it expired on April 15.</b></span><br></div><div style="text-align: justify; "><br></div><div style="text-align: justify;">Bangladesh Vegetables Oil Refiners' and Vanaspati Manufacturer's Association (BVORVMFA) sent a letter to the senior secretary of the commerce ministry in this regard on Monday.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The letter was issued by executive officer of BVORVMFA Nurul Islam Mollah.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The letter stated that as tax exemption on the import of raw materials and production of edible expired on April 15 so it will be supplied at the prices fixed before the exemption of VAT.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">As per new rate, a litre bottle of soybean oil will be sold at Tk 173, while 5 litre bottle at Tk 845 and a litre palm oil at Tk 132.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">In February the National Board of Revenue reduced  the Value Added Tax on refined and crude (non-refined) soybean and palm oil to 10 percent from 15 percent.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">However, state minister for commerce Ahasanul Islam Titu at a meet the press at Dhaka Reporters ‘Unity on Tuesday said there is no scope to hike prices of edible oil, reports unb</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">He said the edible oil price can be adjusted with the international market rate but it will take time.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The state minister also said the price hike would be considered on the import of new shipment of the edible oil.</div><div style="text-align: justify;"><br></div><div style="text-align: justify; ">bnbd24/fas</div>