Products to get costlier

The proposed budget for the upcoming fiscal year 2024-25 includes adjustments to both lower and raise duty and tax rates on various products. This could lead to potential price increases for items subjected to increased tariff and tax rates.

Finance Minister Abul Hassan Mahmood Ali unveiled the country's 53rd budget in the National Parliament at 3:00 pm on Thursday (6). The slogan for this year's budget is 'Commitment to building a happy, prosperous, developed and smart Bangladesh'.

Products that may increase in price include - cigarettes, mobile phone SIM cards, cashew nuts, LED bulbs, cars, soft drinks and energy drinks, ACs, refrigerators, water filters, car conversion costs, generators, security services, some equipment used in hospitals.

Besides, there is a proposal to impose duties on the import of various raw materials utilized in industries. Consequently, the prices of these products may rise. This list includes crude edible oil, tube listening gel used in the production of Shirish paper, artificial corundum, aluminum oxide, ethylene glycol used in the production of pat chips, aluminum ingots used in the production of water motors; Prices of fluorescent lamp parts, glass, plastic, aluminum alloy used in lamp.