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VAT Increase Won't Affect Price of Essential Goods: Economic Advisor
Rtv News
02 Jan 2025, 14:13
Photo: File Picture
The National Board of Revenue (NBR) has increased VAT to 15% on at least 43 types of goods and services, including hotels, restaurants, and clothing. However, Economic Advisor Dr Salehuddin Ahmed stated that this decision would not impact the prices of essential goods.
Speaking to journalists after a meeting of the Government Procurement Advisory Committee at the Secretariat on Thursday (January 2), he made this statement.
The advisor clarified that the tax increase was implemented not to meet the conditions of the International Monetary Fund (IMF), but to boost revenue collection.
He added that although VAT has been increased for 43 goods and services, it will not burden the general public. Taxes have been raised for hotels rated above three stars, but not for ordinary hotels and restaurants.
Dr. Salehuddin Ahmed also expressed optimism that the country's economy would regain stability in the new year. He mentioned that banks would receive adequate support and that the upcoming budget would allocate more funds to the education and health sectors.
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Take Trip Ltd Celebrates 1st Anniversary
Take Trip Limited, a concern of US Bangla Group, celebrated its first anniversary yesterday 05 December 2024.
Serving its over 4500+ B2B clients, Take Trip Limited, in its short journey has become a major OTA (Online Travel Agent) in the Bangladesh travel market. It is committed to providing its clients with the best service along with providing access to industry-leading technology, which includes NDC and direct API of airlines such as Emirates, Turkish Airlines, Qatar Airways, US Bangla, Air Astra, Air Arabia, Fly Dubai, Salam Air and many more.
The Take Trip team celebrated the event yesterday with its airline partners and esteemed guests.
Trade Fair in January: How to Get Tickets
The 29th Dhaka International Trade Fair (DITF) will commence on January 1, 2025, and run throughout the month. For the first time, tickets for the event will be available online.
The fair will be held at the Bangabandhu Bangladesh-China Friendship Exhibition Center (BBCFEC) in Purbachal, Dhaka.
Bibek Sarkar, Secretary of the Export Promotion Bureau (EPB) and Director of the Trade Fair, confirmed this information to the media.
Key Highlights of the Fair:
The fair will be inaugurated by Dr. Muhammad Yunus, the Chief Advisor of the interim government at 10 am on January 1.
This year's theme highlights the sacrifices made during the July-August mass uprising, with special memorial corners named after Shaheed Abu Sayeed and Shaheed Mir Mugdha.
A Youth Pavilion will focus on engaging the younger generation, and a dedicated area for senior citizens will ensure comfortable seating for elderly visitors.
Facilities for Women Entrepreneurs:
Stalls will be allocated to women entrepreneurs at a lower cost, enabling them to sell products at affordable prices.
Fair Design and Features:
The entrance will showcase a theme inspired by the July-August mass uprising, while the fairground will highlight the EPB’s activities and various financial sectors.
Online Ticketing System:
For the first time, visitors can purchase tickets online through an app, allowing entry by scanning a QR code on their phones.
Tickets will still be available at physical counters, including BRTC bus counters.
Ticket Pricing:
Entry fees remain unchanged
Adults: 50 BDT
Children: 25 BDT
Transportation and Parking:
A dedicated BRTC bus service will operate from Kuril Flyover to the fairground daily from 8 am to 10 pm.
Ample parking facilities will be available to minimize visitor inconvenience.
Security Measures:
The fair will be secured by members of the police, RAB, and the army, with mobile courts also in operation.
International Participation:
Companies from countries like India, Pakistan, Iran, Turkey, Malaysia, Indonesia, Hong Kong, and Singapore are expected to participate, with a total of 350 stalls.
Preparations for the event are nearly complete, with about 80% of the work finished, according to Bibek Sarkar.
Notably, the 29th edition of the upcoming trade fair will include 350 stalls and participation from various organizations from India, Pakistan, Iran, Turkey, Malaysia, Indonesia, Hong Kong, and Singapore.
For this year's event, members of the police, RAB, and armed forces will be engaged in ensuring overall security. Additionally, mobile courts will also be in operation.
Moreover, the fair center will feature extensive parking facilities to ensure visitors face no inconvenience.
The Touch of Winter, The Season of Peace
At the end of the year, when winter arrives, our hearts are immersed in a new feeling. The misty winter mornings, dewdrops on the grass, the cold breeze, and the gentle chill in the air seem to present the aesthetic beauty of nature. This season carries the unique message of gentleness and tranquility.
Winter gives nature a new form. When the first rays of the sun break through the mist and spread light around, nature becomes even more enchanting. The winter vegetables scattered in the fields, the yellow glow of mustard flowers, and the dew collected on the branches of trees add a new dimension of peace to our minds. The mild cold breeze of winter nights seems to freeze the world; everything slows down, and the birds slowly emerge from their nests.
Winter also means a feast of food. Hot pitha (traditional sweets), steamed pitha, date juice kheer, and chitoi pitha make this season even more memorable. The taste of pitha with hot tea in the winter morning creates a unique sense of unity with nature. The winter food festivals on the city streets, with a variety of pithas and sweets, double our joy.
However, alongside this gentleness of winter, the severity of the cold brings hardship to the poor. Without warm clothing, their lives become unbearable. Therefore, standing by the poor and helpless at this time is our social and humanitarian duty. Distributing warm clothes, and blankets, or organizing winter relief efforts not only alleviates their suffering but also serves as a shining example of human compassion.
Winter is also deeply connected with our culture and heritage. In rural Bengal, during this time, gatherings for Jari, Sari, Baul songs, and Marfati-Murshidi songs take place. In the past, this was also the season when theatrical performances and folk dramas would flourish. Although these traditions have faded somewhat, their bright presence in our memories remains unblemished.
A special feature of winter is the unique adornment of nature. The beauty of roses, jasmine, marigolds, chrysanthemums, and bakul flowers surpasses the harshness of the season, adding an extraordinary charm. Just as winter decorates our lives in a new form, it also reminds us of our sense of responsibility towards society.
Winter is the season of peace and joy. It brings with it the aesthetic beauty of nature and the message of humanity. We can all share this gift of nature, especially if we stand by those suffering in the cold. By enjoying winter and fulfilling our duties, winter will truly become a season of joy for everyone.
Bottled Soybean Oil Back to Market After Price Hike
"For the past few days, shopkeepers kept saying the same thing—bottled soybean oil has been unavailable. However, if it was found in rare places, it was claimed a high price. However, today (December 10), I see a completely different scenario in the market. Every shop has plenty of oil. That means whatever happened till now was nothing but a scheme by the syndicate to hold people hostage," said Mansura Hossain, a private-sector employee while shopping for daily essentials in Karwan Bazar.
Expressing her frustration, Mansura said, "Prices of essential commodities are often raised under the pretext of shortages, causing hardships for ordinary people like us. We are forced to buy at higher prices."
Al-Amin, a CNG driver, said, "Yesterday morning I returned empty-handed because there was no 1-liter bottled soybean oil. But today, bottled soybean oil is available everywhere. Does this make any sense? Are they free to do whatever they want without any accountability?"
The CNG driver further alleged, "If there was a shortage, then where did all this oil suddenly come from? Or are the traders orchestrating this to hike the prices? The government should investigate the real reason behind this."
On Tuesday morning (December 10), a visit to the capital's Karwan Bazar area revealed shelves overflowing with bottled soybean oil. However, as the new price-adjusted oil had not yet arrived, consumers were still able to buy at the previous rates.
Speaking to several retailers, the reporter stated that after the announcement of the price hike, dealers increased the supply of oil in the market. However, oil at the new price has not yet been supplied in the market. As a result, consumers are buying 1-liter bottled soybean oil for 167 BDT and a 5-liter bottle for 818 BDT.
Retailers also mentioned that from Wednesday (December 11), the new oil will arrive in the market and will be sold at 175 BDT per liter.
Earlier, on Monday (December 9), Trade Advisor Sheikh Bashir Uddin announced an increase in the price of both bottled and loose soybean oil per liter an 8 BDT.
He said the price of bottled soybean oil has been set at 175 BDT per liter, while loose soybean oil is priced at 157 BDT per liter.
Citing the increase in prices on the international market, the advisor added, "The primary reason for the price hike is the supply shortage of edible oil globally."
Fake Freedom Fighters To be Punished: Faruk E Azam
Being listed as a freedom fighter without actually being one is a serious offense. An opportunity will be given to such fake freedom fighters to withdraw their names. If they fail to do so and the court confirms the falsification, their certificates will not only be canceled, but the government will also take legal action against them.
Being listed as a freedom fighter without actually being one is a serious offense. An opportunity will be given to such fake freedom fighters to withdraw their names. If they fail to do so and the court confirms the falsification, their certificates will not only be canceled, but the government will also take legal action against them.
This statement was made by Faruk E Azam, Advisor to the Ministry of Liberation War Affairs.
On Wednesday (December 11), during a press conference at the Ministry of Liberation War Affairs, Faruk E Azam issued this stern warning to fake freedom fighters.
In response to a question, Advisor Faruk E Azam said, "In my view, fake freedom fighters have deceived the nation. This is not a minor offense but a serious crime. We might offer indemnity (general amnesty). Those who have falsely claimed to be freedom fighters can voluntarily withdraw their names. If they do so, they might receive general amnesty. However, if that does not happen, as we have said, they will be accused of this fraud."
Referring to numerous complaints regarding the list of freedom fighters, the advisor stated, "We have 3-4 lists in our possession. There are various types of lists – blue lists, red lists, and even Indian lists. Several types of freedom fighter lists exist here. Many individuals have been listed as freedom fighters despite not being one. Some have been gazetted and are enjoying benefits. When the court determines the falsification, we will cancel their certificates and ensure they are punished appropriately so that they face the necessary consequences."
Emphasizing the importance of punishment, Advisor Faruk E Azam said, "If we can establish a clear verification process, the same measures will be applied to all. They deserve punishment, and exemplary penalties should be imposed. We hope to implement effective measures regarding this matter very soon."
He further stressed that the dignity of genuine freedom fighters must not be compromised. The government aims to complete this work without undermining their honor. Acknowledging the difficulty of the task, Faruk E Azam mentioned that the advisors are putting in their best efforts. He added, "In many cases, people have been listed as freedom fighters out of favoritism, familial connections, or other influences. Identifying these individuals will take some time, but success is expected in this regard."
Panchagarh Shivers as Temperature Drops to 9°C
The northern district of Panchagarh is shivering at the lowest temperature. The dense fog combined with biting cold has left the entire region in distress. With the intense chill and freezing winds, the temperature has dropped to 9°C.
On Friday (13 December) at 6:00 am, the temperature at the Tetulia Weather Observation Center in the district was recorded at 9°C. Previously, on Thursday at 9:00 am, the temperature in this district was recorded at 12.6°C.
The Meteorological Department states that when the temperature ranges between 8.1 and 10°C, it is classified as a mild cold wave. According to this definition, a mild cold wave is currently sweeping over Panchagarh.
Jitendra Nath, the in-charge of the Tetulia Weather Observatory, said, "The temperature has dropped to 9°C. At 6:00 am today, it was recorded at 9°C. This is classified as a mild cold wave. Although the sun was visible through the fog in the morning, the northern region continues to shiver under the cold wave accompanied by chilly winds."
Vegetable Prices Begin to Drop
Vegetable prices in the capital markets have started to drop. Traders say the markets are now filled with winter vegetables, bringing some relief in prices. While some vegetables are still being sold at Tk80 to 150 per kg, most are now priced between Tk50 and 60. Although winter vegetables are expected to be more cheaper during this season, the low market prices of vegetables are offering some respite.
A visit to several markets in Kawran Bazar, Agargaon, Shyamoli, and Kallyanpur on Friday (December 13) revealed this scenario.
Traders noted that within a few days, more winter vegetables would arrive in the markets, likely reducing prices further.
In Kawran Bazar, new potatoes are selling at Tk100 per kg, tomatoes at Tk120, green chilies at Tk100, hyacinth beans with seeds at Tk100, bitter gourds at Tk100, cucumbers at Tk80, carrots at Tk80, radishes at Tk30, and spring onions at Tk80 per kg.
Other vegetables include string beans at Tk100 per kg, round eggplants at Tk80, long eggplants at Tk60, medium-sized cauliflowers at Tk50 per piece, cabbages at Tk50 per piece, papayas at Tk50 per kg, lady's finger at Tk80, pumpkins at Tk40 per kg, regular hyacinth beans at Tk50, turnips at Tk50, and onion flowers at Tk30 per bundle.
According to vegetable vendor Zakir, prices have not decreased as much as expected. "In previous years, vegetable prices used to drop to Tk30 to 40 per kg, but this year they haven't. However, prices are lower than before," he said.
Shahin, a shopper from Farmgate, remarked "Tomatoes are still around Tk150 per kg. Cucumbers and carrots are also expensive. Where is the price reduction?"
Homemaker Fatema Akter commented, "While some vegetables are cheaper, many are still overpriced. Only if vegetables were priced at Tk30 to 40 per kg could we truly say prices have dropped."
Meanwhile, in Kawran Bazar's wholesale market, local onions are selling for Tk70 to 120 per kg, and Indian onions for Tk70 to 80. Pabna's local onions are being sold for Tk120 per kg. Additionally, Chinese ginger is priced at Tk160, Chinese garlic at Tk210 to 220, fresh ginger at Tk100 to 110, and garlic from Natore at Tk230 to 240 per kg. An analysis of the market over the past few months shows a slight decrease in wholesale ginger prices, while garlic prices remain mostly unchanged.
In terms of meat, beef is selling at Tk750 per kg, and goat meat at Tk1,100 per kg. Farm chickens are being sold at Tk180, Pakistani chickens at Tk310 taka, and local chickens at Tk520 per kg.
Chicken vendor Kalam noted that poultry prices have risen slightly, selling for Tk190 per kg, an increase of Tk10 in just two days. Meat prices in other markets are almost the same. Eggs are being sold at Tk145 to 150 per dozen.
