Jumbangla Desk: The central bank has taken the initiative to provide special facilities to facilitate the import of daily necessities in view of the upcoming Ramadan. Traders will now be able to reduce the margin of letter of credit or LC to the minimum level by talking to the bank in case of import of 11 types of products.

Bangladesh Bank has issued a circular in this regard on Wednesday (November 6).

It is said that the demand for some daily necessities increases during the month of Ramadan. Taking this matter into consideration, this facility has been given to keep the prices of these products at a bearable level by making imports easier.

It is also informed that the traders will get this benefit till March 31 next year.

The directive also said that in view of the increase in demand for consumer goods during the month of Ramadan, the import credit of rice, wheat, onion, dal, edible oil, sugar, eggs, chickpeas, peas, spices and dates to ensure the necessary supply by making the import of those products at a bearable level . Instructions are given to keep the cash margin rate to be maintained at a minimum level on the basis of banker-customer relationship.

Until now, there was a directive to keep 100 percent margin or security value in the case of importing goods, but now that margin will be determined based on the relationship between the customer and the bank.

Industry insiders say the relaxation of LC margins will encourage importers. They will need less cash, import costs will also be lower. As a result, the prices of these products in the market will decrease to some extent.

The weight of one hilsa is 2 kg 304 grams, it was sold for Tk