As the market is stable now, the National Board of Revenue has decided to re-impose duty on green chilli import, official sources told the Dhaka Tribune yesterday.
On 18th July, the duty was reduced to 25% from 92.3% through a statutory regulatory order (SRO) to contain price of green chilli. The order was supposed to remain effective till December 31.
“The decision [to reduce duty] was taken to control price of green chilli. But the price is affordable now”, said a NBR official said.
He said a format of the revised SRO has already been prepared in this regard to increase duty again and an abstract of it has also been to the finance ministry for appraisal.
Meanwhile, a NBR assessment estimated a total of Tk2.5m loss of revenue due to cut in import duty on the green chili.
Just before Ramadan began, the retail price of green chilli went up sharply reaching Tk160-200 per kilogram from Tk70-80.
After reduction of duty, the price fell to Tk 80-100 a kg. The visits to the city’s kitchen markets yesterday found the green chilli was retailing at Tk90-100 per kg.
“As the price [of green chilli] is stable, the re-imposing of duty will help our local farmers get their due price,” Md Helal Uddin, Vice President of FBCCI, told the Dhaka Tribune.