Government Proposes Hike in Cigarette Prices with Increased Duties and VAT

During the presentation of Bangladesh's 53rd budget, Finance Minister Abul Hassan Mahmood Ali proposed an increase in cigarette prices for the upcoming financial year. He justified this move by highlighting the detrimental health effects of tobacco products and aimed to discourage their consumption while boosting revenue. The proposed budget, titled 'Commitment to build a happy, prosperous, developed and smart Bangladesh', amounts to Tk 7,97,000 crore. This marks the first budget under Finance Minister Abul Hasan Mahmud Ali and the fourth consecutive term of Prime Minister Sheikh Hasina's government. The budget is slated for approval by June 30.