Tax cut fails to taper essential prices
Dhaka, March 2 -- Despite the government's efforts to control prices during the holy month of Ramadan by reducing value-added tax and import duties on most essential products like rice, dates, edible oil, and sugar, the impact has been mixed.
Only the price of edible oil has shown a downward trend, while sugar and dates continue to see prices rise.
Starting March 1, edible oil prices were reduced by Tk 10, making a one-litre bottle of soybean oil now cost Tk 163, down from Tk 173, and a five-litre bottle priced at Tk 800. Loose soybean oil is adjusted to Tk 149 per litre.
The government's decision to reduce duties comes at a time when prices have hit record highs, prompting discussions among the business community and market analysts a...
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