Duties on tea, sugar imports increased

National Board of Revenue yesterday raised duties on tea and sugar imports to help local producers cut losses due to fall in sales.
The regulatory duties on tea imports rose to 15 percent from 5 percent, according to an NBR order. The duties on raw sugar imports went up by Tk 500 per tonne to Tk 2,000 while that of the finished sugar rose by Tk 1,500 per tonne to Tk 4,500.
The increase in the duties came into effect immediately, according to the NBR order.
Local tea traders had long been demanding a rise in the duties on imports.
NBR raised the duties on sugar import after state-run sugar mills reported fall in sales.
The move, however, came less than three months before the fasting month of Ramadan when the consumption of the sweetener reaches its peak.