The price of private operators' liquefied petroleum gas (LPG) has declined by Tk 50 to 1178 from Tk 1,228 per 12-kg container with effect from 6 pm today (Monday Dec 3) at the retail level, including the value added tax (VAT). Bangladesh Energy Regulatory Commission (BERC) announced the new price at a press briefing on Monday. As per the announcement, the prices for other quantities of the LPG will also go down in line with the new price at the same ratio. Read: BERC to announce new retail LPG price Monday morning The price of autogas for motor vehicles has also been cut down to Tk 54.95 from the present price of Tk 57.24 per litre. Making the announcement, BERC Chairman Abdul Jalil said the price of retail LPG has witnessed the fall as the bulk LPG of Saudi contract price (CP) has declined globally. "Saudi CP price has declined to $420 from the previous price of $765.75 per metric ton. Bangladesh's private LPG operators buy the bulk LPG on the basis of the Saudi CP," he told reporters at the virtual briefing.

The collection of Value Added Tax (VAT), which contributes 37 percent to the total revenue collection, is experiencing the worst-ever scenario due to the COVID-19 impacts that halted trade and business in the country for a couple of months.

The National Board of Revenue (NBR) on Sunday asked its field offices to formulate a strategy keeping in mind the present condition and expedite the collection of Value Added Tax (VAT) and thus achieve the revised revenue collection target.

The Cabinet on Thursday cleared the drafts of two amendment ordinances in a bid to ease provisions in the collection of Value Added Tax (VAT) and income tax during a situation like the ongoing coronavirus crisis.