Shawdesh desk:

The government has decided to lift Value Added Tax (VAT) on imports of cooking oil, sugar and gram to keep prices from skyrocketing ahead of Ramadan.

Finance Minister AHM Mustafa Kamal made the announcement after a meeting of the Cabinet committee on government purchases on Thursday.

“We are lifting the VAT on cooking oil, sugar and gram so that they remain affordable,” he said.

Earlier on Monday, Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) urged the government to remove value-added tax on imported edible oil for next three months to bring stability in the edible oil market.

On Feb 6, the government said that the 10 percent rebate on sugar import duty would be maintained to keep prices stable ahead of Ramadan.