NBR Seeks Alternatives to Pay Import Bills Amid Dollar Shortage

Staff Reporter

The National Board of Revenue (NBR) Chairman, Abdur Rahman Khan, revealed that Bangladesh is struggling to pay import bills for essential commodities like rice and fuel due to the ongoing dollar shortage. He said, “Without rice or fuel, the country cannot function. The Bangladesh Bank has informed us that even these bills are not being cleared. This highlights the level of disorder that existed in the banking sector.”

Speaking at a meeting with the Bangladesh Jewellers Association (BAJUS) at the Revenue Building in Agargaon, Dhaka, Khan added, “Once the foreign exchange reserve situation normalizes, the government will lift such restrictions.”

During the meeting, jewelry industry leaders proposed reducing existing taxes and VAT on the sector. They also recommended bringing gold traders, currently outside the VAT net, under its purview.

Addressing their concerns, the NBR chairman noted that revisions to the baggage rules for gold imports would be introduced. He also hinted at imposing advance income tax, which could impact the industry. Additionally, he assured stakeholders of reviewing the high tariff on diamond imports to facilitate the sector’s growth.