DHAKA, March 14, 2022 (BSS) - The cabinet today directed the National Board
of Revenue (NBR) to reduce the VAT as much as possible among the existing 15
percent on the imports of essential commodities, including edible oil, sugar
to keep those prices at a tolerable level.

The cabinet also asked the authorities concerned to execute the directive
immediately.

The directive came during an unscheduled discussion on the market situation
at the regular cabinet meeting held with Prime Minister Sheikh Hasina in the
chair.

The premier joined the meeting virtually from her official residence
Ganabhaban, while her cabinet colleagues were present at the meeting room of
the Cabinet Division at Bangladesh Secretariat.

Cabinet Secretary Khandker Anwarul Islam briefed the reporters after the
meeting at the Secretariat.

He said, "We think this move will have a direct impact on the market."

Earlier on Sunday, an inter-ministerial meeting at the secretariat took
different decisions regarding the prices of daily essential commodities.

At that meeting, it was also decided to reduce the value added tax (VAT)/duty
on daily essential commodities including edible oil, sugar.

Another decision was also taken to form a task force in the next couple of
days so that unscrupulous traders could not grasp any undue opportunity by
increasing the prices of daily essentials.

The cabinet secretary said, "The prime minister has agreed with the issues
(decided on Sunday) and given very strong instruction."
 
 He said VAT on edible oil has been waived at the retail level, and the law
minister already signed the SRO.