Importers want zero L/C margin on 6 essentials ahead of Ramadan

Importers have requested the government to allow them the scope for importing six essentials including sugar and edible oil ahead of the coming Ramadan keeping zero margin on letters of credit (LCs).

They made the request at a meeting with Commerce Secretary Tapan Kanti Ghosh held in the capital on Wednesday (January 3).

The six essentials are onion, edible oil, sugar, date, red lentil and gram. The Ministry of Commerce convened the meeting to discuss the stock, supplies and prices of essentials ahead of the month of Ramadan.

Commerce Ministry’s senior secretary Tapan Kanti Ghosh said a letter would be sent to the central bank requesting to relax the conditions on import of the six essentials and arranging necessary amount of dollar.

According to the Arabic calendar month, the holy Ramadan will begin in the second week of next March.