National budget FY2019-20

Gold to be cheaper as import duty reduces

Staff Correspondent | banglanews24.com
Update: 2019-06-13
Gold to be cheaper as import duty reduces
Representative image, collected

DHAKA: The price of gold will drop as the budget for fiscal year 2019-20 proposed reducing duty on importation of the precious metal.

In the budget placed at the Jatiya Sangsad Thursday (June 13), Tk 1,000 reduction was proposed in per bhori (11.664gm) or 22 karat of gold, fixing the duty at Tk 2,000 from existing Tk 3,000.

Besides, a change was brought in baggage rule.

As per the changed policy, a passenger won't be allowed to bring more than 12 gold bars.

A passenger can bring gold jewelry of maximum 100gm, free of tax. Besides, the maximum weight of gold bar was fixed at 234gm or 20 bhori, to bring home from abroad with paying tax.

AHM Mustafa Kamal placed the budget of Tk 5,23,190 crore at the Jatiya Sangsad Thursday (June 13) afternoon. 

This is the country’s 48th budget and the 20th of the Awami League (AL) government in five terms while Tajuddin Ahmed presented the first budget as the finance minister of the post-independence Bangabandhu government in 1972.

Kamal placed the budget as the country’s 12th finance minister after taking the charge of the finance ministry in the third consecutive term of AL government.

Size of the budget is equivalent to 18.1 percent of total GDP.

BDST: 2201 HRS, JUN 13, 2019
SI

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