Rice price expected to drop by Tk14.40 per kilogram.

The government has reduced import duty and regulatory duty on the import of rice alongside withdrawing advance tax to keep the price of rice within the purchasing power of the general public.

The National Board of Revenue (NBR) issued a gazette notification in this regard on Sunday. 

The move is expected to boost the supply of rice in the market and ensure food security for people.

Under the fresh decision, the import duty on rice has been reduced to 15% from 25%, the regulatory duty to 5% from 25% and the 5% advance tax has been withdrawn.

The NBR said that with such a move, the price of rice will drop by Tk14.4 per kilogram.

Published Date: October 21, 2024