Rice import duty raised to protect local farmers

Staff Correspondent | Published at 02:54pm on June 07, 2018

Allocating highest in agriculture sector,  finance kinister AMA Muhith in his budget speech proposed to re-impose 25 per cent customs duty and three per cent regulatory duty on import of rice to protect local growers.

The finance minister proposed an allocation of TK 58,928 crores for agriculture and rural development sector. ‘This is the highest allocation for any sector in the next financial year,’ he said.

He mentioned that there was a bumper paddy production in the boro season.

He also proposed rationalizing duty on locally produced starches, wheat, maize, potato and cassava, to 15 per cent for customs duty and 10 per cent for regulatory duty to protect farmers and agro-based industry.