One lakh tonnes of sugar to be imported soon: BB

Staff Reporter :
The government will import 1,00,000 lakh tonnes of sugar soon in a move to tame the price hike of the said essential.
On Sunday, Bangladesh Bank (BB) said in a media statement that traders can open LCs for sugar import as per the government’s new instruction.
BB’s spokesman Abul Kalam Azad told the media that importers must collect permission letters from the ministries concerned to open LCs.
Officials of the Ministry of Commerce say that the move of the government came despite no shortages of sugar in the domestic market. The reason behind the decision is to ensure adequate supply of sugar and keep the price stable, they say.
They say import of another 50,000 tons of sugar had been allowed earlier. The central bank also claimed that there is no shortage in sugar supply this year compared to last year.
The notification also stated that the sugar market can be stabilised through proper monitoring.
In the latest price surge of daily essentials, sugar reached Tk105-Tk110 per kg in Dhaka as traders cited a supply shortage for at least one week.