Market Digest

BB extends deadline for importing life-saving drugs

Staff Correspondent

25 March, 2021 12:00 AM printer

BB extends deadline for importing life-saving drugs

Bangladesh Bank has extended the deadline of advance transaction for import of life saving drugs for three months till June 30, 2021 amid rebound coronavirus pandemic.

Earlier, the deadline was set till March 31, 2021.

As part of the policy support, $0.5 million or equivalent can be paid in advance for import price of life-saving drugs, coronavirus-resistant medical kits/equipment and other essential medical items without foreign re-payment guarantee.

The BB foreign exchange policy department issued a circular in this regard on Wednesday and sent to all authorized dealers in foreign exchange.

The price for import of manufacturing materials can be paid within 360 days instead of the existing 180 days. The opportunity to pay the 360-day import duty has also been set aside for the import of agricultural inputs and chemical fertilizers. Industry insiders say the central bank's decision will ease the management of import costs for the local industries.

In this regard, an official of Bangladesh Bank said, in order to provide a relief of fund management to the local industries, the deadline for some policy assistance has been extended.