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Bangladesh importers for lower Letters of Credit margin

Bangladesh businesses have demanded that the government allow 20-30 per cent margin in opening letters of credit for importing essential commodities to keep the supply and prices of the goods stable on the local market during the upcoming month of Ramadan. The demand for some essential commodities, including onions, garlic, pulses, increases during Ramadan, fasting month for the Muslims.

Importers and traders of essential commodities made the demand at a meeting with the Directorate of National Consumer Rights Protection held at the office of the directorate in the capital Dhaka. The DNCRP organised the views exchange meeting with the importers and traders to keep stable the prices of garlic, ginger, turmeric and red chilli during Ramadan.

Recently, the prices of the commodities have increased abnormally on the retail markets in the capital city. Businesses blamed less import of the commodities for the price hike as they were facing troubles in opening LCs due to a dollar crisis in banks.


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