The Bangladesh government is planning to reduce regulatory duty imposed on sugar imports, to facilitate market stability, reported TBSNews. It is likely to be slashed from 30 per cent to 20 per cent.
As per media report, sources from the National Board of Revenue (NBR) said that various proposals have been submitted to higher authorities in a bid to secure market stability, and one of the important decision under consideration is the reduction of regulatory duties. The final decision will be determined after assessing various aspects.
In Bangladesh, sugar refining and marketing are currently controlled by five major companies: City Group, Meghna Sugar Refiners, S Alam Refined Sugar Industries, Abdul Monem Sugar, and Deshbandhu Sugar Mills.
