STAFF CORRESPONDENT:

Prices of certain products are expected to increase or fall in the 2024-25 fiscal year with changes brought by the government to taxes and duties in the national budget.

Finance Minister AH Mahmood Ali presented the Tk 7.97 trillion national expenditure outlay to parliament on Thursday, hoping to keep runaway inflation within 6.5 percent.

But prices of many products are going up. They include ice cream, carbonated beverages, cigarettes and mobile communication.

PRICES UP

Ice Cream: Supplementary duty to increase from 5 percent to 10 percent.

Carbonated Beverages: Supplementary duty to rise from 25 percent to 30 percent.

For beverages containing different levels of additives, the duty will rise from 35 percent to 40 percent.

Cigarettes: The supplementary duty has been increased from 65 percent to 66 percent.

Additionally, there is a proposal to increase the excise duty on the local production stage of cigarette and bidi paper from 5 percent to 15 percent.

Cost of Mobile Communication: Along with a 15 percent VAT, a 15 percent supplementary duty is currently imposed on mobile phone conversations.

An additional 5 percentage point supplementary duty is proposed to be added, making it 20 percent.

Moreover, the excise duty per SIM or e-SIM has been increased from Tk 200 to Tk 300.

Mango Pulp and Juices: The excise duty on locally produced mango pulp, mango, pineapple, guava, and tamarind juice has been proposed to be increased from 5 percent to 15 percent.

Energy-Saving Bulbs and Tube Lights: For energy-saving bulbs and tube lights with a capacity from 1 to 50 watts, the excise duty at the local production stage has been proposed to be increased from 5 percent to 15 percent.

Amusement and Theme Parks: The excise duty on this service sector has been increased from 7.5 percent to 15 percent.

Tour Operators: The excise duty exemption on this service has been withdrawn.

LRPC Wire: To discourage import of superior quality iron and non-alloy steel wires, which are being produced in the country now, the budget proposes an increase in the import duty of LRPC wire from 10 percent to 15 percent.

Cashew Nuts: The finance minister has proposed a 10 percent regulatory duty on cashew nuts in shelled in bulk.

PRICES DOWN

Kidney Dialysis Filter and Circuit: The import duty on kidney dialysis filters and circuits has been reduced from 10 percent to 1 percent by creating a new H code.

Spinal Needle: The import duty on spinal needles has been fixed at 5 percent to facilitate its availability in the market by creating a new HS code.

Aseptic Packs: Import duty on aseptic packs has been reduced from 25 percent to 10 percent.

Milk Powder: The 20 percent supplementary duty imposed on imported powdered milk has been withdrawn for the development of the repackaging industry.

Methanol: Import duty on bulk methanol import has been decreased from 10 percent to 5 percent.

Polypropylene Yarn: Import duty on Polypropylene yarn, a raw material used for manufacturing carpets, has been reduced from 10 percent to 5 percent.

Manganese: Import duty for manganese, a raw material used by the ferro alloy manufacturing industry, has been reduced from 10 percent to 5 percent.