Tk 2.0b cash incentives for export sectors released
Thursday, 10 September 2009
FE Report
The government released Wednesday cash incentives worth Tk 2.0 billion for major export sectors and sub-sectors to help them pay wages and other benefits to workers ahead of Eid-ul-fitr.
The amount includes Tk 1.10 billion worth of cash subsidy to the garment exporters, who earlier demanded granting of Tk 30 billion from the government stimulus package ahead of the Eid.
While announcing the current fiscal budget in June last, finance minister AMA Muhith promised to offer a stimulus package worth Tk 50 billion to sectors hit by global economic recession.
Along with the amount, the government allocated Tk 15 billion as cash incentives against export of goods in the budget for fiscal 2009-2010.
"The finance ministry has released the cash incentives from the Tk 15 billion subsidy fund. It is yet to disburse any amount from the stimulus package," said an official source.
The government is also contemplating further release of Tk 5.50 billion cash incentives within a short period, he said.
Expressing his hope over receiving the fund ahead of Eid, he said: "The government should speed up procedure to release the fund ahead of Eid to help the exporters."
Earlier, the finance minister vowed to disburse 70 per cent of cash incentives against export without audit to expedite release of fund.
The government released Wednesday cash incentives worth Tk 2.0 billion for major export sectors and sub-sectors to help them pay wages and other benefits to workers ahead of Eid-ul-fitr.
The amount includes Tk 1.10 billion worth of cash subsidy to the garment exporters, who earlier demanded granting of Tk 30 billion from the government stimulus package ahead of the Eid.
While announcing the current fiscal budget in June last, finance minister AMA Muhith promised to offer a stimulus package worth Tk 50 billion to sectors hit by global economic recession.
Along with the amount, the government allocated Tk 15 billion as cash incentives against export of goods in the budget for fiscal 2009-2010.
"The finance ministry has released the cash incentives from the Tk 15 billion subsidy fund. It is yet to disburse any amount from the stimulus package," said an official source.
The government is also contemplating further release of Tk 5.50 billion cash incentives within a short period, he said.
Expressing his hope over receiving the fund ahead of Eid, he said: "The government should speed up procedure to release the fund ahead of Eid to help the exporters."
Earlier, the finance minister vowed to disburse 70 per cent of cash incentives against export without audit to expedite release of fund.