Govt grants cash incentive to crust leather, shipbuilding
Saturday, 17 April 2010
FE Report
The government has granted a cash incentive of 5.0 per cent against exports from the crust leather and shipbuilding sectors.
The exporters of the two sectors will receive the cash subsidy against the net repatriation of the free-on-board (FOB) prices of their products effective from November 25 last, officials said.
The central bank has issued a circular in this connection and asked the commercial banks to follow the provisions on the cash subsidy for the exportable products.
"We've issued the circular in line with the finance ministry's decision on the cash subsidy for the products," a senior official of the Bangladesh Bank (BB) told the FE Thursday, adding that the banks will have to comply properly with the related provisions in this connection.
The government earlier announced a revised list of 15 exportable products with inclusion of the two new items that would receive the cash subsidy for the fiscal year 2009-10.
The government has granted a cash incentive of 5.0 per cent against exports from the crust leather and shipbuilding sectors.
The exporters of the two sectors will receive the cash subsidy against the net repatriation of the free-on-board (FOB) prices of their products effective from November 25 last, officials said.
The central bank has issued a circular in this connection and asked the commercial banks to follow the provisions on the cash subsidy for the exportable products.
"We've issued the circular in line with the finance ministry's decision on the cash subsidy for the products," a senior official of the Bangladesh Bank (BB) told the FE Thursday, adding that the banks will have to comply properly with the related provisions in this connection.
The government earlier announced a revised list of 15 exportable products with inclusion of the two new items that would receive the cash subsidy for the fiscal year 2009-10.