No extra duty on raw and refined sugar import: Bangladesh finance minister

Bangladesh on Sunday withdrew one of its budgetary measures in which specific customs duty on import of raw and refined sugar was increased.

Just four days after the budget proposal placed before the parliament, Bangladesh finance minister Abul Maal Abdul Muhith on June 8 said in the parliament that imposition of increased specific customs duty on raw and refined sugar had been dropped from the budget proposal.

Muhith said that the proposal had been included mistakenly in the budget speech and the Finance Bill-2015.

In the budget, the government proposed to increase the specific duty on import of raw sugar to BDT 4,000 a tonne from the current Tk 2,000 and for refined sugar, the duty will be BDT 8,000 a tonne instead of BDT 4,500.

Now, the existing duty rate will be continued as the government decided to withdraw the proposal.