Duty on imported rice re-imposed to protect farmers

Finance Minister AMA Muhith today proposed to re-impose 25 per cent customs duty and 3 per cent regulatory duty on rice imports to protect the farmers as the country got a bumper paddy production in the boro season.

The finance minister also said to protect farmers and agro-based industry, duty on locally produced starches, wheat, maize, potato and cassava, have been rationalised to 15 per cent for customs duty and 10 per cent for regulatory duty.

In the proposed budget for the fiscal year 2018-19, the finance minister proposed an allocation of TK 58,928 crores for agriculture and rural development sector.

"This is the highest allocation for any sector in the next financial year," he said while unveiling the budget in the parliament.