Badrul Ahsan :
The government has released cash incentives amounting to Tk 8.75 billion for disbursement among major exporters for the first quarter of the fiscal year (FY) 2015-16, sources said.
The Ministry of Finance advised the Chief Accounts Officer of the Finance Division to release the fund in favour of the central bank.
Local exporters have been advised to receive the fund by applying to the central bank through authorized dealers.
In the current fiscal, the government has decided to release a total of Tk 35.00 billion as cash incentives.
Of the Tk 8.75 billion cash incentives, the jute and jute product sub-sector will get Tk 1.25 billion in the Q1, while other sectors will receive the rest of the amount.
However, the jute and jute product sub-sector will receive a total of Tk 5.0 billion cash incentives through the whole sector, while the rest will be disbursed among other export-oriented sectors.
At present, some 14 export sectors, including textile and apparel, frozen fish, leather products, agro-based products and agro-processing industry, halal meat, bone paste, potato, light engineering, ship and pet bottle flakes are enjoying cash incentive facility.
Under the cash incentives programme, potato, halal meat and agro-products are getting the highest 20 per cent cash subsidy.
The small and medium garment factories are receiving additional 4.0 per cent subsidy, while 3.0 per cent are being provided to new products and new market expansion, except the USA, Canada and the EU.
The export-oriented local textiles sector is receiving 4.0 per cent alternative cash incentives instead of customs bond and duty-drawback facility.
Companies producing products from elephant grass (hogla), paddy straw (khor) and sugarcane bark (akher chobra) are given 15 to 20 per cent incentives.
Exporters of bone dust and ships are enjoying the support at the rate of 5.0 per cent.
Leather goods, light engineering and pet bottle are enjoying 12.50 per cent, 15 per cent and 10 per cent incentives respectively.
Frozen shrimp and other fish exporters are getting the support at different rate ranging from 2.0 per cent to 10 per cent, while jute products at 5.0 to 10 per cent.
In fiscal 2014-15, the government allocated Tk 34.0 billion for 14 export sectors, introduced years ago to boost competitiveness of the leading export-earning sectors.
The country earned $ 31.20 billion in last fiscal showing a 3.39 per cent growth, which also fell short of target by 6.0 per cent, according to the Export Promotion Bureau (EPB) data.
The government has released cash incentives amounting to Tk 8.75 billion for disbursement among major exporters for the first quarter of the fiscal year (FY) 2015-16, sources said.
The Ministry of Finance advised the Chief Accounts Officer of the Finance Division to release the fund in favour of the central bank.
Local exporters have been advised to receive the fund by applying to the central bank through authorized dealers.
In the current fiscal, the government has decided to release a total of Tk 35.00 billion as cash incentives.
Of the Tk 8.75 billion cash incentives, the jute and jute product sub-sector will get Tk 1.25 billion in the Q1, while other sectors will receive the rest of the amount.
However, the jute and jute product sub-sector will receive a total of Tk 5.0 billion cash incentives through the whole sector, while the rest will be disbursed among other export-oriented sectors.
At present, some 14 export sectors, including textile and apparel, frozen fish, leather products, agro-based products and agro-processing industry, halal meat, bone paste, potato, light engineering, ship and pet bottle flakes are enjoying cash incentive facility.
Under the cash incentives programme, potato, halal meat and agro-products are getting the highest 20 per cent cash subsidy.
The small and medium garment factories are receiving additional 4.0 per cent subsidy, while 3.0 per cent are being provided to new products and new market expansion, except the USA, Canada and the EU.
The export-oriented local textiles sector is receiving 4.0 per cent alternative cash incentives instead of customs bond and duty-drawback facility.
Companies producing products from elephant grass (hogla), paddy straw (khor) and sugarcane bark (akher chobra) are given 15 to 20 per cent incentives.
Exporters of bone dust and ships are enjoying the support at the rate of 5.0 per cent.
Leather goods, light engineering and pet bottle are enjoying 12.50 per cent, 15 per cent and 10 per cent incentives respectively.
Frozen shrimp and other fish exporters are getting the support at different rate ranging from 2.0 per cent to 10 per cent, while jute products at 5.0 to 10 per cent.
In fiscal 2014-15, the government allocated Tk 34.0 billion for 14 export sectors, introduced years ago to boost competitiveness of the leading export-earning sectors.
The country earned $ 31.20 billion in last fiscal showing a 3.39 per cent growth, which also fell short of target by 6.0 per cent, according to the Export Promotion Bureau (EPB) data.
