Staff Reporter :
The government is set to extend support to three sectors — active pharmaceuticals ingredients (API), renewable energy and leather — by providing incentives aiming to help them flourish, sources said.
To this end the Ministry of Commerce has prepared a draft policy on three sectors in the light of the guidelines for evidence-based policy formulation (EBPF).
The draft policies suggested the continuation of 15 per cent cash incentives for the leather industry.
The policies also recommended providing financial support to the API and renewable energy sectors helping the two flourish.
A senior trade official said the draft polices of the ministry also suggested the government consider providing cash incentives to the tanners for proper relocation of their respective industries from Hazaribagh of the capital to Savar tannery estate.
“We’ve prepared the draft policies on three (API, renewable energy and leather) sectors and submitted those to the high-ups of the Ministry of Commerce (MoC) for the submission to the cabinet committee on economic affairs,” joint secretary of the Commerce Ministry Md Obaidul Azam told the New Nation. Earlier, the cabinet division had asked the ministries of forest and environment and health and family welfare and commerce to prepare policies on three key vital sectors based on evidence-based formulation.
In 2016, the government took up a project titled ‘BCURE’ for formulating policies by the ministries through proper impact analysis.
Building Capacity to Use Research Evidence (BCURE) is an initiative to build capacity integrating data and research evidence into policy decision-making through research, evidence and data.
The strategic purpose of BCURE is aimed at greater use of data and research evidence by policymakers.
Besides, it has the potential to dramatically improve policy outcomes and contribute to poverty reduction and enhanced socioeconomic wellbeing.
The ministry of commerce, in its draft policies, also suggested spending funds from the corporate social responsibly (CSR) for ensuring the welfare of the workers.
Asked when the policies would be sent to the cabinet division, another high official of the Commerce Ministry said, “We will send the policies to the cabinet for its approval after completing all formalities.”
