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Dhaka Tribune

Budget FY20: Prices up, prices down

The budget aims to achieve a growth rate of 8.2%, banking heavily on the expected growth of the outgoing fiscal year (FY2018-19)

Update : 13 Jun 2019, 05:31 PM

Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in increase or decrease in their prices.

UP

Milk powder: Customs duty has been proposed to be raised at 10% from existing 5%.

Imported sugar: Specific duty has been raised to Tk3000/MT from Tk2000/MT for raw sugar while it will be Tk6000/MT from Tk4500/MT for refined sugar. Also regulatory duty will be increased to 30% from existing 20% for both refined and raw sugar import.

Mobile services: Supplementary duty hiked to 10% from existing 5% on services provided through mobile phone SIM/RIM cards.

Ice cream: 5% supplementary duty imposed.

Chartered aircrafts and helicopters: Supplementary duty hiked to 25% from existing 20%.

Smart phones: Duty hiked to 25% from existing 10%.

BRTA services: 10% supplementary duty imposed on fees of different services of BRTA.

Rice bran export: Export duty hiked to 25% from 10%.

Olive oil import: Import duty rose to 25% from 10%.

Down

Cancer medicine: Duty on raw materials to become zero percent.

Lifesaving gases: Regulatory duty on import of lifesaving gases to be lowered to 10% from existing 20%.

Transport components: Duty on air filter, brakes, reduced to 15% from existing 25%.

Fire-fighting equipment: Duty on bond seal, and fire retardant paints reduced to 5% from the existing 25%, while duty on Fendolite MII (Mixture), and Lightning arresters will be 5% from 10%.

Gold: Specific duty has been proposed at Tk2000 from existing Tk3000 for each 11.664gm (Bhori) of gold.

Read the full budget speech for FY20 here.

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