The government has given permission to 280
private firms to import 8.37 lakh tonnes of rice as different corporate
organisations and unscrupulous traders are allegedly trying to create an
artificial crisis in the market of rice across the country.
“The food ministry has given permission to some 280 private firms to import
8.37 lakh tonnes of rice from abroad within next August aiming at tackling
the artificial crisis of rice, caused mostly by some unscrupulous hoarders in
the country,” said Muhammad Mahbubur Rahman, Senior Assistant Secretary
(Foreign procurement) of the Ministry of Food.
Of the total import, these firms will import some 7.21 lakh tonnes of boiled
and 1.16 lakh tonnes of non-boiled (Atop) rice, according to an official
order.
The private sector importers have been asked to open the Letter of Credit
(LC) within this month to import the amount of rice and market those food
grains within August this year.
The government has given permission to the importers and traders of the
private sector for importing rice with a 25 per cent tax with a view to
ensuring its adequacy to stable the volatile rice market.
Some private importers and traders have already submitted their applications
to the ministry intending to import rice.
The importers, who have been given permission, will have to import rice
within a month of opening LC…A portion of the imported rice must have to be
available in the market within the next 15 days of reaching those food grains
to the country,” he added.
On June 22, the National Board of Revenue (NBR) under the Internal Resources
Division of the Finance Ministry issued a notification clearing a Food
Ministry proposal to cut import tax for facilitating rice import under the
private sector.
Importers would have to just pay only 25 per cent import tax – 15 per cent
regulatory duty, five per cent advance tax and five per cent advance income
tax, according to the NBR notification, adding that “There would be no
customs duty. Customs duty was 25 per cent and regulatory duty was 25 per
cent before.”
However, the Food Ministry proposed to allow rice import at ‘zero tax’.
Responding to the proposal of the ministry, the Prime Minister has also given
her approval to import rice at zero tax. But, the NBR has given its clearance
to import rice paying 25pc taxes in total.
According to the Food Ministry and Trading Corporation of Bangladesh (TCB)
statement, retailers are selling per kg fine rice at Tk 65 to 80, which is up
14 per cent from a month ago. Prices of coarse rice edged up 8.6 per cent to
Tk 48 to 53 per kg, during the same period.
At present, the food grain stock in the government godowns is around 16.41
lakh tonnes.
Of the grains, the stock of rice is around 14.08 lakh tonnes, 1.63 lakh
tonnes of wheat and 1.07 lakh tonnes of paddy.
