Dollar Surge, Not Tariffs, Driving Up Import Prices: NBR Chairman

Responding to queries regarding taxes on imported fruits, the NBR Chairman clarified that no new tariffs have been imposed over the last 18 months. Instead, duties and source taxes have been reduced in many instances. He pointed out that the exchange rate has surged from 80 BDT to 125–126 BDT per dollar over the last two years, citing this as the fundamental driver of costs.

The Chairman emphasized that the government has slashed duties on essential commodities like rice, lentils, and oil to prioritize public interest over revenue collection. He further noted that the role of customs is shifting from revenue generation to trade facilitation and preventing smuggling, with future revenue growth expected to come from Income Tax and VAT. The NBR will observe International Customs Day nationwide on January 26.