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A decision on increasing edible oil prices would be made on Tuesday as Sunday’s meeting at the commerce ministry regarding the matter ended without any results.
On March 27, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association proposed an increase of Tk 18 per liter in soybean oil prices. A meeting was held on Sunday at the commerce ministry regarding the proposal.
Commerce Adviser Sheikh Bashir Uddin, Bangladesh Trade and Tariff Commission Chairman Dr Moinul Khan, a representative from the National Board of Revenue (NBR), commerce ministry officials, and edible oil refinery owners participated in the meeting.
Refiners said they made the proposal as the facility of import duty waiver is scheduled to expire on June 30. They said there will be no necessity to hike the prices if they can get the extension of the facility after the deadline.
The Bangladesh Trade and Tariff Commission recommended an extension of the facility in a letter sent to the National Board of Revenue (NBR) chairman.
Sources told local news portals that another meeting would be held on Tuesday and a decision would be taken in that meeting.
Source: Online/OFA
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