The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
Govt approves 3-year export promotion policy banning overseas sell of soybean oil, onion and garlic
The government has approved a three-year Export Promotion Policy banning overseas sell of items of everyday use like soybean oil, onions and garlic.
Published : 12 August 2015, 12:58 PM
Updated : 12 August 2015, 12:58 PM
Export of palm oil, ginger, flour and jute seeds also has been banned as Bangladesh needs to import a lot of these products to meet its internal demand.
The new policy has also put a ban on export of firearms, ammunitions and rare artefacts.
Export Guidelines 2015-2018 was approved at the meeting of the Cabinet Committee on Economic Affairs, headed by Finance Minister AMA Muhith, in the Secretariat on Wednesday.
Cabinet Division’s Additional Secretary Mostafizur Rahman told journalists that the new guidelines would be effective retrospectively from July.
The new guidelines aimed to generate export revenue of $60 billion by 2021, he added.
Bangladesh’s export earnings were $30.77 billion in the last fiscal.
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