The prices of many products and services are likely to go up owing to the proposed hikes in duties and value added tax in the 2023-24 national budget.

Due to VAT and duty cuts, a handful of products will be less expensive.

"Prices of essentials are already high. If they gets more expensive, it would be nothing but rubbing salt in the wounds," said Habibur Rahman, who works at a company.

Prices of plastic tableware, kitchenware, household articles, hygiene and toilet articles, including any similar products (except tiffin boxes and water bottles), kitchen towels, tissue papers, aluminum kitchen utensils, and frames of glasses are likely to go up due to proposed hike in VAT on those.

Mobile phones, gold bars, bicycle parts, LGP cylinders, lifts, escalators, cement, ballpoint pens, and software are also likely to become costlier.

The prices of cigarettes, e-cigarette, imported cashew nuts, non-fortified basmati rice, processed nuts, fruits and dates may also increase.

People will have to pay more for travelling abroad as the finance minister proposed increasing travel tax. Domestic air travels may also become costlier as the minister proposed imposing an air travel tax of Tk 200.

Besides, land registration may also become costlier as the finance minister proposed incasing property transfer tax.

The prices of optical fiber cables, non-mass-produced biscuits, sweetmeats, animal feed, agricultural products, aircraft engines and their parts, aircraft parts, and anti-malarial and anti-tuberculosis drugs are likely to come down.