Budget 2023-24: Products that will see prices down

Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in an increase or decrease in their prices.

In the proposed budget, the prices of these products are expected to come down:

Medicine and medical equipment: In the budget, the government may give duty concessions on the import of raw materials for the production of more medicines and medical equipment. Import of raw materials for anti-cancer and anti-diabetes drugs will get duty exemption.

Agricultural machinery: Due to the tariff concession in the budget, the prices of locally produced agricultural machinery and equipment may come down.

E-commerce cost: E-commerce companies may be exempted from VAT at the rate of 5% on sales. As a result, delivery charges of e-commerce platforms will be reduced.

Foreign clothes: In the upcoming budget, import duties on luxury foreign fabrics may be reduced.

The other products that will see a reduction at their prices are – sanitary napkins, diapers, toiletries items, soap, shampoo, LED bulbs, meat and meat products, and sweets.