Products that may see prices decrease

Finance Minister AHM Mustafa Kamal is set to place a TK 5.68 lakh crore proposed national budget for 2020-21 fiscal year in the parliament on Thursday.

The budget will propose changes to duties on different products.

So, prices of several products are likely to decrease once the national budget comes into effect.

Prices of locally made agricultural machineries and equipment may decrease.

Besides, all types of taxes have been waived on the import of masks, PPEs, gloves, goggles, various chemical products and medical equipment to combat coronavirus. As a result, the prices of these products may go down.

Tariffs and VAT may be waived on chemicals and components used for production of coronavirus detection kits and research in tis regards. So, prices of these products are like to go down.

Prices may be decreased for hospital ICU, CCU and other equipment used in emergency services.

Duties and VAT on may be waived for all parts of ambulance to encourage the emergency service.

Special tariffs and VAT exemptions will be included in the budget in order to attract local companies for research and production in manufacturing ventilators. As a result, the prices of these products may go down.

Advance tax on locally produced small industrial raw materials may be reduced. So, the prices of small industrial products may come down.

Tariff exemptions could reduce the prices of poultry, dairy and fisheries and firefighting equipment.


Dhaka/M A Rahman/AKA