Salt import deadline extended to Oct 11.

The government has extended the time for importing salt to October 11 this year to meet local demand and rein in price spiral in the local market, an official said.

The Chief Controller of Imports and Exports in a circular on September 24, 2012 has extended the import deadline to facilitate the importers to bring salt.

The circular said that salt mill owners and refined salt importers could open letter of credit (LCs) for importing up to 10,000 tonnes of salt.

The importers should have to furnish all the information regarding LCs to the Chief Controller of Imports and Exports within 24 hours of opening of LCs, the circular added.

Before the start of Ramadan the ministry of commerce had allowed import of 200,000 tonnes of salt. It again allowed import of another 1,50,000 tonnes this month.

The country produced 1.16 million tonnes of salt this year against the target of 1.45 million tonnes.

Following the shortfall, different brands of fine quality of salt were selling at Tk 27-30 per kg at retail level Wednesday which were Tk 20 - 22 few months ago.

Though the government allowed import of salt, the quantity of the imported commodity till date is not substantial. But it is encouraging, said a high official of the MoI preferring anonymity.

He said that the government wanted to reduce the salt price by allowing sufficient import of the product. Bangladesh mainly imports salt from neighbouring India and Myanmar.

Earlier, following the price hike of salt, Bangladesh Small and Cottage Industries Corporation (BSCIC), as per the directive of the MoI, carried out a survey to assess the necessity of importing salt.

Eight monitoring centres and four salt production-cum-display centres of BSCIC carried out a survey and found a shortfall of 0.59 million tonnes of salt. It recommended to the ministry concerned for taking steps for import of the item to meet the gap between production, demand and supply.

Source : thefinancialexpress-bd.com