The government has approved a proposal to sharply reduce import taxes on green chilli and tomato to ensure uninterrupted supply and keep prices affordable in the domestic market.
The decision was taken at a Cabinet meeting chaired by Prime Minister Tarique Rahman at the Secretariat on Monday.
Under the approved proposal, the total tax burden on imports of the two items will be reduced from the existing 61 per cent to 20.5 per cent for the first month after issuance of the relevant notification. The rate will then be increased to 31% for the following month, according to a press release issued by the Cabinet Division.
The reduced duty-tax rates will apply to imports of green chilli (HS Code 0709.60.19) and tomato (HS Code 0702.00.19) for the specified period.
The proposal was placed by the Internal Resources Division.
The government takes policy measures from time to time to ensure food security, stabilise prices of essential commodities and protect consumers’ purchasing power, according to the proposal.
It said prices of green chilli and tomato often rise sharply due to seasonal production patterns, natural disasters, adverse weather, supply-chain disruptions and production shortages.
