Govt releases Tk 3.0b in cash incentive for leading export-earning sectors
Friday, 14 December 2007
Doulot Akter Mala
The government issued an order Thursday to release cash incentives worth Tk 3.0 billion (300 crore) to the major export-earning sectors.
Following the government order, the finance ministry also released the fund for distribution through the Bangladesh Bank (BB) to the leading export earnings sectors and sub-sectors to facilitate payment of salaries and benefits of their workers before the Eid-ul Azha festival.
Of the Tk 3.0 billion, the ready-made garments (RMG) sector will receive over Tk 1.28 billion (128 crore) and frozen foods over Tk 1.06 billion (106 cr).
Leather products will get Tk 308 million (30.88 cr), agro-based products Tk 210 million, agro-processing industry Tk 70 million, tobacco Tk 30 million, hand-made products of bulrush, elephant grass and straw Tk 7.7 million, bone paste Tk 5.0 million and potato Tk 2.7 million.
In the budget for the fiscal 2007-08, the government allocated Tk 11.0 billion in cash incentives for exporters. Of the amount, it has released Tk 4.0 billion in installments in the first quarter of the current fiscal.
In the fiscal 2006-07, the total allocated amount in cash incentive was worth Tk 5.0 billion.
The government has introduced the cash incentives for the leading export earners to help them stay competitive in the international market.
The exporters still have arrear cash incentives worth Tk 4.38 billion against their exports.
The export target has been set at $14.5 billion for the current fiscal, reflecting a 19 per cent growth over that in the FY 2006-07.
The country recorded $12.8 billion in export earnings against the export target of $12.5 billion in the last fiscal.
The government issued an order Thursday to release cash incentives worth Tk 3.0 billion (300 crore) to the major export-earning sectors.
Following the government order, the finance ministry also released the fund for distribution through the Bangladesh Bank (BB) to the leading export earnings sectors and sub-sectors to facilitate payment of salaries and benefits of their workers before the Eid-ul Azha festival.
Of the Tk 3.0 billion, the ready-made garments (RMG) sector will receive over Tk 1.28 billion (128 crore) and frozen foods over Tk 1.06 billion (106 cr).
Leather products will get Tk 308 million (30.88 cr), agro-based products Tk 210 million, agro-processing industry Tk 70 million, tobacco Tk 30 million, hand-made products of bulrush, elephant grass and straw Tk 7.7 million, bone paste Tk 5.0 million and potato Tk 2.7 million.
In the budget for the fiscal 2007-08, the government allocated Tk 11.0 billion in cash incentives for exporters. Of the amount, it has released Tk 4.0 billion in installments in the first quarter of the current fiscal.
In the fiscal 2006-07, the total allocated amount in cash incentive was worth Tk 5.0 billion.
The government has introduced the cash incentives for the leading export earners to help them stay competitive in the international market.
The exporters still have arrear cash incentives worth Tk 4.38 billion against their exports.
The export target has been set at $14.5 billion for the current fiscal, reflecting a 19 per cent growth over that in the FY 2006-07.
The country recorded $12.8 billion in export earnings against the export target of $12.5 billion in the last fiscal.