The government has decided to withdraw 5 percent duty on import of onion with a view to contain the market price and increase stock.

The move will also encourage importers to import the product from alternative markers as India put a ban on onion export. 

Confirming the decision, Gazi Touhidul Islam, public relations officer at the Ministry of Finance, on Sunday said that the National Board of Revenue (NBR) withdrew the duty till March 31, 2021. 

Earlier the government imposed the duty for the first time in the budget for the current fiscal year 2020-2021 to ensure fair price for farmers and encourage domestic production of the item.

BDST: 1850 HRS, SEP 20, 2020
AP/SMS