TDS DESK:

The prices of electricity meters, including prepaid ones, may increase as the national budget for 2024-25 fiscal year has proposed increasing the duty on their import.

The import duty has been increased from 15% to 25%, said Finance Minister Abul Hassan Mahmood Ali in his budget speech on Thursday.

As for their parts, the duty has been increased from 10% to 15%, he added.

Mentioning that switch sockets are being produced in the country, the finance minister said the local manufacturers are facing unequal competition from imports.

He proposed the minimum duty on each kilogram of switches be raised from $6 to $8, sockets from $5 to $8 and their parts from $4.5 to $6.

Finance Minister Abul Hassan Mahmood Ali presented the proposed budget for the 2024-2025 fiscal year amounting to Tk797,000 crore (Tk7.97 trillion) in parliament on Thursday.

This was his first budget unveiling and the first budget after the reelection of the Awami League government in January.