Prices of junk food to go up as Muhith proposes new SD
Senior Correspondent, bdnews24.com
Published: 01 Jun 2017 05:17 PM BdST Updated: 01 Jun 2017 05:49 PM BdST
Prices of fast food known as ‘junk food’ will go up as the finance minister has proposed to impose 10 percent supplementary duty or SD considering health risks.
AMA Muhith in his budget speech on Thursday said he had earlier in August in parliament committed to impose additional taxes on fast food considering the health risk of future generations.
“For this reason, I am proposing to impose 10 percent supplementary duty at local supply stage on fast food in addition to applicable 15 percent VAT,” he said.
However, Akku Chowdhury, chief executive of Transcom Foods, the Bangladesh franchisee of Pizza Hut and KFC, told bdnews24.com they would try to adopt a policy so that their products do not go up suddenly.
“We are a genuine business group. We’ll not do anything that can hurt our consumers. So we’ll try to adopt a policy so that the prices do not go up suddenly."
He said he would work out on how production costs can be cut to offset the new duty.
-
China's Q1 GDP grows at record pace as recovery speeds up
-
China’s economy is booming. Shoppers are skittish anyway
-
Pandemic drives up debt for marginalised families in Bangladesh: survey
-
Hong Kong Courts the rich as China tightens its grip
-
IMF favours global minimum corporate tax: chief economist
-
G20 to discuss uneven recovery from COVID crisis, officials say
Most Read
- Bangladesh committee recommends lockdown extension for another week
- Bangladesh arrests Hifazat leader Mamunul Haque, known for hate speech and aggression
- Bangladesh reports 102 new virus deaths, another grim record
- Bangladesh opens largest hospital dedicated to coronavirus treatment
- Bangladesh police introduce pass for ‘movement’ in lockdown
- Bangladesh chief justice says saving lives must come before livelihoods
- Bangladeshi folk fantasy, action film star Wasim dies at 74
- Cheque clearing, electronic fund transfer services resume
- How the tiny kingdom of Bhutan out-vaccinated most of the world
- Former DUCSU VP Nur sued under digital security law over 'provocative remarks'