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Govt mulls onion import duty withdrawal

Published : Thursday, 17 September, 2020 at 12:00 AM  Count : 151

Prices of essentials, especially onion, are already shooting up at city kitchen markets. The city corporation authorities have fixed prices of various commodities, making it mandatory for the sellers to display prices on the corporations' price chart. The photo was taken from Shyambazar Wholesale Kitchen Market in the capital on Wednesday.	PHOTO: OBSERVER

Prices of essentials, especially onion, are already shooting up at city kitchen markets. The city corporation authorities have fixed prices of various commodities, making it mandatory for the sellers to display prices on the corporations' price chart. The photo was taken from Shyambazar Wholesale Kitchen Market in the capital on Wednesday. PHOTO: OBSERVER

Finance Minister AHM Mustafa Kamal has said his ministry will consider a proposal for the withdrawal of duty on onion import.
"We'll definitely consider the matter [duty withdrawal] as we did in the past," he told reporters responding to a question on withdrawal of duty on onion import.
The Finance Minister was speaking at a virtual briefing session on the outcomes of two consecutive meetings of the Cabinet Committee on Economic Affairs Cabinet Committee on Public Purchase on Wednesday.
He made the remarks when reporters drew his attention to Commerce Minister Tipu Munshi's call to the Finance Ministry to withdraw the existing duty on onion import against the backdrop of India's ban on export of the bulb
to Bangladesh and other countries.
The Indian ban on onion export to Bangladesh has triggered an unusual upward trend in its prices. The onion price shot to about Tk 100 from the normal price of Tk 30 in the local market. A bulk import of such an essential item usually comes from the neighbouring country.
The Finance Minister said the government is very careful about the adequate supply of all essential commodities, not only about onions. "We, including the Prime Minister, don`t expect any volatile situation of any essential commodities." 
Responding to another question, he said the Asian Development Bank has positively made its projection of 6.8 percent GDP growth in Bangladesh in the current fiscal, which is the third highest in South-East Asia after China and India.
"But we still believe we'll be able to achieve our targeted 8.2 percent GDP growth in the current fiscal. We all are working to strengthen the economy and dreaming of achieving it," he added.
Meanwhile, the Cabinet Committee approved to procure two lakh metric tons wheat from Russia in the Government 2 Government (G2G) basis.
The Department of Food will procure 2 lakh metric tons of wheat from 'Prodintorg' Myasnitskaya str 47. Moscow, 107084 of Russian Federation, said senior secretary of cabinet division Nasima Begum said
Besides, the government approved two power sector proposals, including one for generating power from waste by the private sector at Jalkuri area under Narayanganj district, Nasima added.
"The meeting approved the proposal for signing a 20-year contract with Consortium of UD Environmental Equipment Technology Co Ltd, Everbright Environmental Protection Technology Equipment (Changzhou) Limited and SABS Syndicate for generating 6MW power from waste in the private sector for the first time in the country with a cost of Tk 1,665.48 crore.
The meeting gave approval to another power sector proposal for procuring some 1,02,720 SPC Pole from the Bangladesh Machine Tools Factory Limited in two lots with a cost of around Tk 164.88 crore.
The CCGP has also gave nod to a proposal for procuring 30,000 metric tons of bagged granular urea fertilizer by the Bangladesh Chemical Industries Corporation (BCIC) from the KAFCO, Bangladesh with a cost of around Tk 66.93 crore.




The BCIC in another proposal will procure 30,000 metric tons of phosphoric acid for DAP Fertilizer Company Limited with a cost of Taka 87.59 crore.




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