Government reduces VAT on LP gas imports

The government has decided to reduce VAT on LPG imports from 15 percent to 10 percent. The Ministry of Power and Energy issued a notification in this regard on Thursday (January 8) afternoon.

The notification states that it has been proposed to reduce VAT on imported LPG from 15 percent to 10 percent and to reduce it to 7.5 percent at the local level. The decision was taken by the government's Energy and Mineral Resources Department after discussions with the LPG Operators Association of Bangladesh (LOAB). The main objective of this initiative is to reduce gas prices at the consumer level and maintain stable fuel supply in the market. Sources have mentioned that the proposed tariff restructuring could have a direct positive impact on the cost of living of ordinary consumers in the country. Incidentally, amid the unusual price increase, traders have stopped the supply and sale of LPG cylinders. The sale and supply of cylinders has been suspended across the country since Thursday (January 8) morning. This has caused extreme suffering to consumers. Meanwhile, at the retail level, cylinders are not available in any store. Even though alternative cooking methods are being used in hotels, stoves are not burning in many homes. Consumers have become hostages of sorts.