Govt withdraws 5pc duty on onion import

News Desk
20 September 2020, Sun
Published: 09:24

Govt withdraws 5pc duty on onion import

The government withdrew the 5 percent duty on onion import to reduce the price of this essential kitchen item in the country. 

The importers will enjoy such privilege till March 31 next year (2021).

The decision has been taken as per the directive of Prime Minister Sheikh Hasina, said a Finance Ministry press release today.

The release said the government had earlier imposed a 5 percent duty on onion import in the current fiscal year (FY21) to ensure a fair price for the local onion farmers as well as to motivate the local farmers in onion production and thus reduce dependence on onion import.

Earlier on September 16, Finance Minister AHM Mustafa Kamal had said that the government would consider withdrawing 5 percent import duty on the onion.

The press release also said the recent Indian ban on onion export to Bangladesh has triggered an upward trend in its prices in Bangladesh.

breakingnews/fas