The central bank of the country is permitting importers to import the most essential commodities for the month of Ramadan on a condition of under 90 days suppliers or buyers credit.
Bangladesh Bank’s (BB) Foreign Exchange and Policy Department issued a notification in this regard on Thursday.
The most essential eight commodities include edible oil, chickpeas, pulses, peas, onions, spices, sugar, and dates.
Bangladesh Bank has taken this step to ensure price control and supply of consumer goods before the start of the month of fasting. This opportunity will be available till March 31.
An official from the relevant department of the central bank emphasized that this initiative aims to avert any potential shortage of essential commodities during the month of Ramadan. Importers are now able to procure these vital items
on debit, provided that banks adhere to the proper procedure and open the import letter of credit (LC).
This streamlined process is expected to expedite the arrival of commodities into the country, mitigating the risk of an artificial crisis and ensuring a smooth and ample supply for the public, he hoped.
Earlier in a meeting, the senior secretary of the commerce ministry, along with representatives from importers, Bangladesh Bank, National Board of Revenue, and other concerned parties, discussed the heightened demand for essential commodities during Ramadan.
Importers shared their concerns, emphasizing that the demand for certain goods doubles during this period.
Addressing potential challenges in the import process, the commerce secretary assured quick resolutions to problems related to port clearance, NBR duty, and other issues.
Importers specifically raised concerns about the high NBR assessment value for importing dates, but the commerce secretary committed to resolving this matter promptly. This collaborative effort aims to facilitate a smooth and uninterrupted flow of essential goods during the important period of Ramadan.
