Bangladesh government to ask refiners to lower sugar prices by Tk5 per kg

The Ministry of Commerce will soon request refiners and millers to reduce sugar prices by Tk5 per kilogram (kg) as the government has reduced the import tax and value-added tax (VAT) on the essential ingredient. The real impact of the reduction of VAT and tax on import of raw sugar is Tk4.5 per kg, but the ministry will ask the millers and refiners to reduce by Tk5 per kg to fix its price at the retail level, Commerce Minister Tipu Munshi said on Sunday. Raw sugar, which is imported under the reduced rate of tax and VAT, will come in the market within the next one week, he also said. It is expected that the price reduction of sugar at the retail level will be possible from next week as the newly imported ...