The price of soya bean oil has been increased by Tk聽10 to Tk聽173 a litre, effective on Tuesday.
According to a Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association letter to the commerce ministry, as the notification issued on February 7 regarding the value-added tax exemption on edible oil (refined palm oil and refined soya bean oil) at the production stage expired on April 15, edible oil would be supplied in the market at the previous price (before VAT exemption) from April 16 at Tk聽173 a litre of bottled soya bean oil and at Tk聽845 a five litres of bottled soya bean oil.
The letter also said that palm oil would be supplied to the market at Tk聽132 a litre.
Bangladesh Sangbad Sangstha reports: state minister for commerce Ahsanul Islam Titu on Tuesday said that there was no scope for increasing the edible oil prices now, but these can be reviewed.
鈥榃hen VAT was exempted, traders were given 15 days to implement the reduction in prices, so the new prices would be effective after the VAT-exempt goods arrived in the country. Now with the withdrawal of VAT exemption, there is no opportunity to increase the price instantly,鈥� he said.
The state minister said this while speaking at a 鈥楳eet the Reporters鈥� event organised by the Dhaka Reporters Unity at its auditorium in the city.
With DRU president Syed Sukur Ali Shuvo in the chair, the event was moderated by its general secretary Mohiuddin Ahmed.
Ahsanul said that ensuring consumer rights was the topmost priority of the present government as it was a 鈥榩ublic-friendly government鈥�.
鈥楾he present government is public-friendly. We are working to ensure consumer rights. We are also providing all sorts of support to the businessmen who are doing business ethically,鈥� he added.
In the next budget, Ahsanul said, a proposal will be sent to the National Board of Revenue to keep the tariff on common consumer products including rice, lentil, oil and sugar at a reasonable level.
鈥業t is not right to impose additional duty-tax beyond the reasonable limit on imported consumer goods and common people鈥檚 daily necessities,鈥� he continued.
Ahsanul, however, said that the prices of commodities were under control during Ramadan and the countrymen celebrated Eid-ul-Fitr and Bangla New Year with relief and enthusiasm.
鈥榃e are working relentlessly to keep the market price under control. We are not working for results or achievements, we are working in the interest of the country and its people,鈥� he said.
The next few years are very important for Bangladesh, the state minister said, adding: 鈥榃e want to take our trade to our desired goal.鈥�