Rice price to be declined by Tk 6 per kg: Tofail

Commerce Minister Tofail Ahmed today told the parliament that rice price will be declined by Tk 6 per kilogramme as the import duty on it has been reduced.

"The import duty on rice has been reduced to 10 percent from 28 percent in line with direction of the prime minister. The rice price will be declined by Tk 6 per kg," he said while discussing on the proposed national budget for 2017-18 fiscal.

Tofail said the prices of rice went up as the mills owners disrupted the normal supply to the market.

Apparently criticising the cabinet members who lambasted Finance Minister AMA Muhith participating in the discussion on proposed budget in Parliament in the last several days, Tofail said the budget has earlier been approved by the cabinet.

“If I've anything to say, the cabinet meeting is the proper place for it. Once the budget is passed (by the cabinet), then MPs (not cabinet members) can place their suggestions on it."

Earlier, several ministers, including Agriculture Minister Matia Chowdhury criticised Muhith for imposing additional excise duty on bank accounts and reducing interest rate on saving certificates.

Tofail also blasted Jatiya Party leaders Ziauddin Ahmed Bablu and Kazi Firoze Rashid for demanding resignation of Muhith and raising question about his capacity for old age reason.

"You raised question about the age of the finance minister, but you don't consider the age of your leader HM Ershad who is five year older than the finance minister. Why did you demand the resignation of the finance minister?" the commerce minister said.

"He (Muhith) placed 12 budgets in Parliament. He'll place more if Awami League is in power. The prime minister has the trust in him," Tofail said.

Talking about recapitalising the state banks with public money, the minister said he does not support it. "Tk 2,000 crore has been proposed for recapitalising banks. But I don't support it.” The government will have to take pragmatic steps to prevent anomalies in the banking sector, Tofail added.