The government has allowed 71 private-sector business organisations to import 418,000 tonnes of par-boiled and non-boiled (atap) rice aiming to rein in its prices no the domestic market, an official said.
To this end, the Ministry of Food (MoF) sent a letter to the Ministry of Commerce (MoC) on August 18 last.
Of the total, traders will import 362,000 tonnes of non-basmati boiled rice while 56,000 tonnes of non-boiled or atap rice.
A high official of the MoF told the FE that rice importers must open letters of credit (LCs) within 15 days from the date of import order.
Besides, they must provide the ministry with all information including bill of entry about import of rice.
The food ministry official further said importers could not pack imported rice in the names of their respective organisations. Imported rice must be sold in plastic sacks by September 25 next, he added.
If any trader fails to open LoC on time, the government will cancel permission for import of rice.
The government gave permission to import rice at a time when its prices remain high in the local market.
The traders were also asked to import rice and ensure its marketing in the local market within the deadline (September 25).
The government would not permit the traders to import additional amount of rice against its allocation.
Coarse rice was sold at Tk 50 per kilogramme while fine varieties like najirshail and minicate at Tk 59-Tk 70 a kg in the city markets on Saturday.
Due to a hike in prices, the government has decided to import rice by reducing import duty.
The food ministry has sent a letter to the National Board of Revenue (NBR) on July 6 last, requesting it to reduce tax and duty to facilitate rice import.
The NBR issued a circular by reducing import duty on rice on August 12 last.
Import duty was reduced to 25 per cent from 62.5 per cent earlier.
The new chart of rice import duty would remain in force until October 30 next, according to NBR.
The food ministry official also said interested business organisations could apply to the MoF until August 25 for rice import.
