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The Minister for Commerce, Tofail Ahmed, has said that the import tax on rice has been reduced as the prices of rice got a sudden increase.

“The price of rice is normalized now”, said the Minister.

He was replying a question in the Parliament

Tofail said that around 28 percent of taxes were imposed based on the growers’ demands. But there was a lacking worth 20 lakh tons of rice to reach the target due to the floods in northern and Haor regions, he added during the replying session.

The Minister also opined that rice price went up as the international sellers took it as an option to make their profit.

“They increased the price as Bangladesh needed rice. We reduced the import tax. Initially, it was 10 percent and then 16 percent. And now the import tax is only two percent”, said the Tofail, the Minister for Commerce.

“Now the price is usual”, said the minister.

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