Bangladesh Bank is going to establish a “Crisis Management Cell” to manage letter of credit (LC) openings in the midst of the dollar crisis, Commerce Minister said today.
A coordination committee will also be formed consisting of prominent members of the business community,” Tipu Munshi said during a meeting of the trade support advisory committee at the Secretariat on Sunday (4 December).
Business leaders discussed a range of issues that they are facing currently due to the dollar crisis and global economic downturn, during the meeting.
“To reduce the sufferings of the people during Ramadan, Bangladesh Bank will issue a circular within two or three days over resolving LC issues for sugar import,” Tipu Munshi also said. He further said, a letter will be sent to the National Board of Revenue to lower the tax on sugar import.
Regarding dealers who are not selling sugar at a set price set by the government, the minister warned that anyone found doing so would face jail.
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