Govt slashes sugar prices by Tk 3 per kg

Staff Correspondent: The government has reduced the price of sugar by Tk 3 per KG.
As per the fresh price, the refined loose sugar will be sold at Tk 104 per KG while the packaged sugar will be sold at Tk 109 per KG. The new price will be made effective from April 8. The Ministry of Commerce issued a notification yesterday in this regard. The notification said that the maximum retail price of sugar has been adjusted following recommendations from the Bangladesh Trade and Tariff Commission.
The Tariff Commission took the decision in light of the recommendations of the meeting on reviewing market situation and price of commodities held on March 19 at Bangladesh Secretariat.
Earlier on February 26, the National Board of Revenue (NBR) reduced the duty on import of non refined sugar by Tk 3,000 per ton and Tk 6,000 per ton for refined sugar.
Besides, the regulatory duty on sugar has been reduced at 25 percent from the existing 30 percent.
A Commerce Ministry official said that the new price has been fixed considering the impact of reducing import duty.
Earlier on February 1, the maximum retail price of refined loose sugar was Tk 107 per KG while that of packaged sugar was Taka 112 per KG.