Gold to get pricier

Gold price may go up as the finance minister has proposed an increase in its import duty from Tk 150 to Tk 3,000 for each tola (11.664 gram).

In his budget speech today, AMA Muhith also proposed to reduce the ceiling of importing gold under duty free access from 200 grams to 100 grams.

Under the existing Passenger (non-tourists) Baggage Rule, a passenger can bring up to 200 grams (about 17 tola) of gold ornament as duty-free.

The passenger also can bring another 200 grams of gold bar on payment of Tk 150 specific duty for each tola.

The minister proposed to allow passengers to bring 100 grams of gold ornaments free of taxes and additional 200 grams on payment of Tk 3,000 specific duty for each tola.

Referring to two big attempts of gold smuggling in last March and April at Hazrat Shahjalal International Airport, the minister proposed to increase the import duty of gold.