Staff correspondent:

The bills for importing essentials such as rice and gas cannot be paid due to the prevailing dollar crisis, Chairman of the National Board of Revenue (NBR) Abdur Rahman Khan said on Sunday (February 16).

“Without essentials like rice or fuel, the country cannot function, and we have been informed by the Bangladesh Bank that they are unable to pay these bills,” he said at a press briefing in the NBR headquarters in Agargaon, when a leader of the Bangladesh Jewellers Association (BAJUS) raised the issue of high taxes on diamond imports and called for a reduction.

The NBR chairman said, “You can understand the kind of chaos that has been there in the banking sector.”

When the foreign exchange reserve situation returns to normal, the government will lift such restrictions, he said.

During the meeting, leaders from the jewellery industry recommended reducing the existing taxes and VAT on jewellers. They also proposed expanding the tax net to include those involved in the gold trade nationwide who are currently not subject to VAT.

The NBR chairman also mentioned that there will be amendments to the baggage rules in the jewellery import sector and hinted at the imposition of advance income tax.

Senior leaders of BAJUS as well as senior officers from the NBR were present at the meeting.