Govt to control import of luxury items: Kamal
20 April 2022, 08:09 pm | Updated: 22 November 2024, 04:39 am
Finance Minister AHM Mustafa Kamal today said imports of luxury goods will be controlled until the global inflation comes down to a tolerable level.
"Imports were never unregulated. Necessary measures are taken to control imports regularly. We are doing the same now," he said while briefing reporters after two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and Cabinet Committee on Government Purchase (CCGP).
He said Bangladesh Bank (BB) always controls the import of some unnecessary items, but there would not be any restriction on the consumer goods which are necessary for people and essential as part of project implementation.
He informed that the central bank has taken an initiative to control the import of luxury items and increased the LC margin.
This will stay in place until commodity prices come down in the international market, he added.
Referring to the country's widening trade deficit he said, "Our exports are growing and so are our imports."
"Imports are always higher than the exports for Bangladesh. No matter how much growth there is in exports, it will never exceed imports," he added.
