Prices of plastic products, cooking oils may rise

The prices of plastic and aluminium products and cooking oils may rise as finance minister AHM Mustafa Kamal has proposed to bring the products under VAT (value added tax) net in his national budget speech for the 2019-20 fiscal.

He presented the budget in parliament on Thursday.

The finance minister said, “I am proposing to impose VAT on the products such as plastic and aluminium items, soybean oil, palm oil, sunflower oil, mustard oil etc. which have been enjoying the exemption benefit for a long time.”