Agriculture machinery, gold to be cheaper

DHAKA, June 13, 2019 : Imported edible oil and ice-cream will be costlier as supplementary duty has been proposed on these products in the proposed budget today.

On the other hand, the prices of imported gold, locally made bread, biscuit and agricultural machinery will drop as the budget for fiscal 2019-20 proposed reducing taxes and duties on the products.

Prices of packaged liquid milk, powdered milk, natural honey, olive oil, processed mixed food, electric motors, optical fiber cable, flasks, bottles, jars, pots, glasses, plates, electric ovens, and stoves are likely to go up.

There is a bad news for ice-cream lovers since 5 percent duty has been proposed on ice-cream, which contributes to its price hike.

Import of smartphones will also be costlier as supplementary duty has been proposed to be increased to 25 percent from its existing 10 percent in the proposed budget.

To protect local industries, the budget proposed to increase import tax on milk, natural honey, olive oil, processed mixed food and edible oil.

Car owners may have to spend more for registration, route permit, fitness certificate, and ownership certificate as 10 percent supplementary duty has been proposed on the charges or fees aiming to ease traffic jam by limiting car use.

Buses, trucks, lorries, three wheelers, ambulances and school buses will not be slapped with this supplementary duty.

Smokers have to pay more as the government aims to maximise revenue from the sector and reduce health risks. The price of every 10 sticks of cigarette has been proposed between Tk 37 and Tk 123, and the supplementary duty between 55 and 65 percent.

The products likely to get cheaper are bread, biscuit, and cakes priced below Tk 150.

The price of the medicine of cancer will also be cheaper as supplementary duty on the medicine is cut in the proposed budget.

The price of locally made motorcycle and agriculture machinery will decline as they will enjoy exemption.