Opening of LCs for food, fertiliser, and energy imports is ordered by the PM

Prime Minister Sheikh Hasina directed the officials concerned to open LCs to import food, fertiliser and energy.

She ruled out any restriction on LC for import of food, and essential items to ensure uninterrupted supplies.

The premier made the directive at a meeting with four important bureaucrats of finance, commerce, food, banking division and Bangladesh Bank Governor Abdur Rouf Talukder the PMO on Sunday.

“There is no compromise for importing essential products in this crucial situation,” she quoted as saying.

The PM also discussed options to ensure adequate supply of energy and foods and maintain stability of market of essentials boosting subsidies or trimming import duties.

Meanwhile, in a major shift, the banks and foreign exchange dealers have moved to lift service charge on inbound remittance to tackle foreign currency shortage.

To ensure uninterrupted sending of remittance, the overseas exchange houses be kept operating on holidays also.

The development came at a meeting between Association of Bankers, Bangladesh Limited (ABB) and Bangladesh Foreign Exchange Dealers' Association (BAFEDA) at Sonali Bank head office on Sunday.

Earlier, expatriates were needed to count a maximum $2 fee for sending remittance to the country.

ABB and BAFEDA decided to hike encashment rate of export proceeds from Tk99.5 to Tk100 per dollar.