Import payments for eight essential items ease ahead of Ramadan
The ongoing inflationary pressure in Bangladesh has pushed up the prices for essential commodities such as rice, sugar and edible oil, meaning that low, fixed and even middle-income households are having to curtail consumption. PHOTO: STAR/ FILE
The central bank has allowed imports of edible oil, chickpeas, pulse, peas, onion, spices, sugar, and dates on usance terms for up to 90 days under supplier's or buyer's credits.
The facility aims to facilitate import transactions and will remain applicable for initiation of imports till March 31 this year, said the Bangladesh Bank in a notice today.
For all latest news, follow The Daily Star's Google News channel. The move is expected to help importers purchase the eight items ahead of Ramadan which their consumption surged.
In international trade, usance is the allowable time, permitted by custom, between the date of the bill and its payment.
The central bank also extended the same facility for four months to March 31 last year.
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