The use of tobacco products, including cigarette, bidi, zarda and gul are going to be costlier from the next 2019-20 fiscal year.
“Considering the health-risk and harmful effects of 92 tobacco products and to maintain compliance with global anti-smoking policy, we are committed to reduce the use of tobacco and maximize revenue collection from this sector,” said Finance Minister AHM Mustafa Kamal while unveiling a Tk 5.23 budget for 2019-20 fiscal in parliament on Wednesday (Jun 13), reports BSS.
Mustafa Kamal proposed fixing the price of every 10 sticks of low segment cigarette at Tk 37 and the supplementary duty rate to 55 percent.
He also proposed increasing the price of the medium segment for every 10 sticks of cigarette at Tk 63 and the supplementary duty rate to 65 percent.
At the same time, the finance minister proposed increasing the price of the high segment for every 10 sticks of cigarette at Tk 93 and Tk 123 and keeping the supplementary duty rate to existing 65 percent.
The Minister also proposed to fix the price of 25 sticks of non-filter bidi at Tk 14 and supplementary duty rate to 35 percent and to fix the price of 20 sticks filter bidi at Tk 17 and supplementary duty rate to 40 percent.
He said smokeless tobacco like Zarda and Gul are also two health-hazard products like cigarette and bidi.
In order to reduce the consumption of smokeless tobacco products, the finance minister proposed to fix the minimum retail price at Tk 30 per 10 grams from zarda and Tk 15 per 10 grams for gul and fix the supplementary duty rate to 50 percent.