Cash subsidy on fine rice export withdrawn
Friday, 28 August 2009
FE Report
The government has withdrawn cash subsidy on export of aromatic and fine rice following the ban on export of the food-grain, officials said.
The Bangladesh Bank (BB) communicated the government decision on withdrawing cash subsidy on the rice export to the commercial banks through issuing a circular Thursday.
"We've issued the circular directing the banks not to provide cash subsidy on aromatic and fine rice in line with the government's decision," a senior official of the central bank told the FE, adding that the exporters received 20 per cent cash subsidy on export of such rice.
Bangladesh exported rice worth about US$9.0 million in fiscal year 2007-2008 and $5.97 million in 2006-2007.
On the other hand, the country imported rice worth $226.60 million in fiscal 2008-09 and $859.18 million in fiscal 2007-08, according to the central bank statistics.
The government has withdrawn cash subsidy on export of aromatic and fine rice following the ban on export of the food-grain, officials said.
The Bangladesh Bank (BB) communicated the government decision on withdrawing cash subsidy on the rice export to the commercial banks through issuing a circular Thursday.
"We've issued the circular directing the banks not to provide cash subsidy on aromatic and fine rice in line with the government's decision," a senior official of the central bank told the FE, adding that the exporters received 20 per cent cash subsidy on export of such rice.
Bangladesh exported rice worth about US$9.0 million in fiscal year 2007-2008 and $5.97 million in 2006-2007.
On the other hand, the country imported rice worth $226.60 million in fiscal 2008-09 and $859.18 million in fiscal 2007-08, according to the central bank statistics.