Finance ministry urged to raise incentives for jute goods exporters

The ministry of jute has recently requested the ministry of finance to provide 20 per cent incentive for jute goods exporters instead of existing 10 per cent.
In a letter sent to the ministry of finance on March 11, the ministry of jute requested it to provide incentives for jute goods exporters as per the directives of the prime minister and the suggestions put forward by the parliamentary standing committee on jute ministry.      
At present, the government gives 10 per cent incentive on export of jute goods, but processed agricultural products get 20 per cent.   
The ministry of jute sent the letter to the ministry of finance after jute millers urged the government not to cut incentive. Earlier, millers also urged the authority concerned to increase such incentives to 20 per cent from existing 10 per cent.
Bangladesh Jute Mills Association (BJMA) secretary Abdul Barik Khan said as the demand for jute goods has sharply declined in Middle East countries, the jute sector are now in big trouble.
Political unrest is also hitting the sector hard, he said, adding that the government should give necessary support, including enhancement of cash subsidy to help the industry flourish.
A total of 145 small and large jute mills are now operating under BJMA while 95 under Bangladesh Jute Spinners Association. Nearly 40 million people are directly or indirectly involved with the sector.
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