BB to lift LC margin on essentials import ahead of Ramadan

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur 
today said that they have taken a decision to issue a circular asking all 
banks not to impose LC margin on import of essential goods until at least 
Ramadan.
 
"We will issue a circular on Sunday (10 November) not to impose LC margin on 
essential goods," he said while briefing reporters after holding a meeting to 
discuss inflation at finance ministry with Finance Adviser Dr Salehuddin 
Ahmed in the chair, 
 
The meeting also decided to relax the single borrower limit for the next two 
to three months to ensure supply of essential food items during Ramadan.
 
Addressing about the dollar supply, the governor said, "There is currently no 
dollar shortage. Anyone can approach any bank and open an LC of any amount. 
Please bring any instances of payment difficulties to my attention."
 
To further alleviate the hardship faced by low-income households due to 
inflation, he said, the government also decided to distribute 10kgs of rice 
per family every month through the Trading Corporation of Bangladesh (TCB). 
Currently, TCB cardholders receive 5kgs of rice at a subsidised rate each 
month, he added.