Central bank to form crisis management cell over LC opening issue: Tipu Munshi
The Bangladesh Bank will establish a "Crisis Management Cell" to handle letter of credit (LC) openings in the midst of the dollar crisis, Commerce Minister Tipu Munshi said today.
"Besides, a coordination committee will also be formed consisting of prominent members of the business community," Tipu Munshi said during a meeting of the trade support advisory committee at the Secretariat on Sunday (4 December).
The meeting was presided over by the commerce minister and the participants included leaders of several trade bodies and officials from the central bank.
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Business leaders discussed a range of issues they are facing currently due to the dollar crisis and global economic downturn at the meeting.
"To reduce the sufferings of the people during Ramadan, the Bangladesh Bank will issue a circular within two or three days over resolving LC issues for sugar import," Tipu Munshi said.
He further said, a letter will be sent to the National Board of Revenue to lower the tax on sugar import.
Regarding dealers not selling sugar at a set price set by the government, the minister warned that anyone found doing so would face jail.
