National Board of Revenue (NBR) has withdrawn the import duty on onion to control the prices. Now traders can import onion without imposed duty till March 31, 2021.
The information was delivered through a press release of the public relations department of finance ministry on Sunday.
The release said that the duty on onion has been withdrawn in this lean period following direction of the Prime Minister. Of the total imported onions more than 90 percent come from neighboring country India.
As India suspended onion export on September 14, the price of this kind of spice went up by 50 taka per kilogram within one day of difference.
During the budget of 2020-21 fiscal year five percent duty was imposed on onion import to discourage import and to ensure proper price for the onion growers in the country. As the price has gone up at the moment importers recommended for withdrawing the duty to the commerce ministry. On pretext of the demand of the businessmen commerce ministry recommended to NBR to withdraw the duty through a letter.