BJA terms budget as reasonable
FE Report | Friday, 13 June 2008
Bangladesh Jute Association (BJA) Chairman Md Rezaul Karim has termed the proposed national budget as reasonable and realistic.
But the BJA chief expressed his disappointment over the absence of any direction and guideline for the jute sector in the proposed budget.
Bangladesh is a leading producer and exporter of raw jute and it earns foreign exchange worth Tk 10 billion (1,000 crore) every year by exporting about 2.5 million bales of raw jute, out of its total production of about 6.0 million bales.
Raw jute is exported abroad after processing in the form of pucca bales.
The government should withdraw VAT and give 10 per cent subsidy on FOB value on export of raw jute to regain the glorious heritage of jute for national interest, the BJA chairman said.
But the BJA chief expressed his disappointment over the absence of any direction and guideline for the jute sector in the proposed budget.
Bangladesh is a leading producer and exporter of raw jute and it earns foreign exchange worth Tk 10 billion (1,000 crore) every year by exporting about 2.5 million bales of raw jute, out of its total production of about 6.0 million bales.
Raw jute is exported abroad after processing in the form of pucca bales.
The government should withdraw VAT and give 10 per cent subsidy on FOB value on export of raw jute to regain the glorious heritage of jute for national interest, the BJA chairman said.