Rice procurement faces disruption due to 0.5pc percent source tax

UNB:

Rice procurement activities across the country are facing disruptions following the imposition of a 0.5per cent source tax on domestic rice procurement, according to an official document.

The document was placed in a recent meeting of Food Planning and Monitoring Committee (FPMC) held at Bangladesh Secretariat with Finance Adviser Dr Salehuddin Ahmed in the chair.

As per the meeting document, the target for Boro Crop collection as paddy was 3.50 lakh metric tonnes while the collection as of July 15 was 3,76,942 tonnes, which means 108per cent achievement.

Parboiled Rice collection target was 14.00 lakh metric tonnes where the achievement of the stipulated time was 9,60,802 tonnes, which means 68.3per cent of the target.

The target for Atap Rice Was 35,000 metric tonnes while collection was 27,908 tonnes, which means 79.4per cent of the target.

The document mentioned that some 26,942 MT of paddy procurement has been achieved ahead of schedule; which is a record so far.

The Food Department has sent a proposal for the ex-post facto approval of procurement of 26,942 MT of paddy procurement in the current Boro season.