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15 June, 2019 09:29:50 AM / LAST MODIFIED: 15 June, 2019 10:32:50 AM

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Some items costlier before budget comes into effect

STAFF REPORTER, Dhaka
Some items costlier before budget comes into effect

The much-talked-about Value Added Tax (VAT) and Supplementary Duty Act 2012 is supposed to come into effect on July 1. But going around the market, it was found that some traders had already increased the prices of some commodities.

As supplies become scarce centring on the budget, prices rise, said the traders.

Prices of some products were stable. Traders said they did not change the price as the old labels are still on the products. They will sell the products according to the new price after they get new-labelled products. Finance minister AHM Mustafa Kamal on Thursday proposed some changes in his maiden national budget for the 2019-20 fiscal year which can make some products costlier and some cheaper. And the plan will be implemented when VAT will be included and reduced in those products on July 1.

But it was seen that prices of milk powder, sugar, cigarettes and cosmetics were higher even before the budget was announced.

Every stick of Benson was Tk. 15 yesterday, the actual price being Tk. 12. Jamal Molla, a cigarette seller told The Independent that on June 13 morning, a carton of Benson cost him Tk. 2,100, but it became Tk. 2,460 at night on the same day. It was the same for some other cigarettes, like Malboro, Star.

Some powder milk sellers said they had to buy milk from the same supplier at a costly rate before the budget. Salman Rahman, a powder milk seller said: “If the budget makes the price higher, what we can do, We have to sell according to how we buy from the supplier."

The price of sugar will go up as the minister proposed to increase the existing specific duty from Tk. 2,000.00/MT to Tk. 3,000.00/MT on import of raw sugar.

BK

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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