Permission to Import 16 Lakh Tonnes of Rice

Representational Image (Photo: Collected)

Representational Image (Photo: Collected)

The government has reduced the tariff to control the rice market and allowed the import of a total of 16 lakh metric tonnes of cooked and sun-dried rice in six phases. The last day for individuals and organizations interested in importing rice at low tariff rates is Wednesday (August 25).

On the same day, the food ministry sent a letter to the secretary of the commerce ministry allocating 48,000 tonnes of non-basmati boiled and sun-dried rice to 50 companies.

On August 12, the National Board of Revenue (NBR) issued a notification to reduce rice import duty to keep the rice market stable.

The NBR has reduced the import duty on rice from 62.5% to 25%. This facility will remain in force till October 30.

According to the ministry, 4 lakh 10 thousand tons to 41 companies on August 17, 4 lakh 17 thousand tons to 71 companies on August 18, 3 lakh 91 thousand tons to 92 companies on August 21, 2 lakh 22 thousand tons to 73 companies on August 22, 94 thousand tons to 41 companies on August 23 and on 24 August 39 companies were allowed to import 57,000 tons of boiled and sun-dried rice. It is mentioned in the allocation letter that the imported rice can have a maximum of 5 percent broken grains.

The condition of importing rice states that the LC (Letter of Credit) must be opened within 15 days of the issuance of the allotment order and the relevant information (including the Bill of Entry) must be notified to the Ministry of Food by e-mail immediately.

Allotted importers will have to market the entire rice in Bangladesh by September 25. Additional IP (Import Permit) cannot be issued. Imported rice cannot be re-packaged in the name of the proprietor. In addition, imported rice in plastic bags should be sold. If the bank fails to open the LC within the stipulated time, the allotment will be canceled.

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